World's created before the 1.20.0 update do not place or mine blocks correctly in creative mode.
Some placed blocks do not appear after being placed, but the hit bock for it is shown.
Some mined blocks do not disappear, but the hit box is removed.
The changed blocks only show correctly after saving and reloading the world.
Does not appear to affect world's created in 1.20.0.
Related issues
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Resolving temporarily as Awaiting Response. How long have you waited for the blocks to appear/disappear before reloading the world? Additionally, could you add a video showing the issue to your report? If it exceeds the file size limit, you can upload it elsewhere (e.g., OneDrive) and link it here.
This ticket will reopen automatically when you reply.

I have waited 10+ minutes before reloading the game. I have linked to a video where I place 3 blocks and remove another 3, then wait over 3 minutes before reloading the game.
Could you try walking away from the chests until the game's performance improves and seeing if you can place/break blocks normally then? Chests having a noticeable impact on performance is a known issue: MCPE-137537.

The blocks are placed and destroyed correctly when away from the chests. However, this world did not suffer noticeable lag in earlier versions of the game.
I play on Nintendo Switch and this is also a problem