I wasn't sure if I did something wrong in my primary install, so as a test on a new installation and in 18.1.3 studio on W11 the problem still exists.
Do note that I'm usually working with hour long videos (As an example
https://drive.google.com/file/d/1Cwv5bM ... sp=sharing WARNING: Sine wave sound).
To to confirm I'm not doing something unusual, here's how to copy my workflow.
1) download the file
2) copy the file 3 times to get 4 files
3) make new project
4) insert the 4 files into project
5) insert 4 files into a new timeline
6) wait while the first waveform appear
7) wait the same amount of time and go to the next file
8) watch as there is no waveform
Davinci Resolve Studio 20 build 49, Windows 11, Ultra 7 265k, Nvidia 5070 TI, 576.80 Studio