Logic Pro: Audio stops playing on playback on m3 max chip Macbook Pro

Does the sound "cut out" or does the playback stop?

Is there an error message?

Are you using 3rd-party plugins that are in demo mode or are not properly authorized?

Fixed my problem... try the steps below to see if it will work for you too

Delete the Logic Pro PLIST file

1. In Logic Pro, note any custom preference settings that you’ve made, and save any custom key commands that you've created. 
2. Quit Logic Pro.
3. In the Finder, choose Go > Go to Folder.
4. Enter ~/Library/Preferences, then click Go.
5. Remove the "com.apple.logic10.plist" file from the Preferences folder. 
6. If you upgraded from Logic 9 or earlier to Logic Pro, also remove the "com.apple.logic.pro" file. 
7. Restart your Mac.

After deleting the PLIST file, open your project and try to reproduce the issue that you were experiencing. If the issue no longer occurs, choose Logic Pro > Settings (or Preferences), reapply your custom settings, and import your custom key commands.

I'm having a similar problem. My playback just stops after a few seconds. No error message and no plugins in use. I can use all the dropdown menus, effects, faders and everything but I can't change anything on the actual timeline and I can't even see the waveform for anything I've imported. I've tried to erase the cache, tried to delete and reinstall the entire program but nothing seems to be working. Please help!