Anyone else seeing constant PyCharm freezes when using latest preview of WSL from the Microsoft Store?

I'm using PyCharm Pro 2021.2.3 on Windows 11, build 22000.318 (i.e. the latest regular build). The project is on WSL. The distro is Ubuntu 21.10, which I side-loaded using Canonical's  instructions.

I occasionally see freezes in PyCharm when using WSLg / WSL2 that comes with Windows 11. It's not a huge deal. A reboot fixes it. From memory, shutting down WSL and restarting PyCharm again fixes it too.

However with the latest preview of WSL in the Microsoft Store (as of November 18, 2021), PyCharm freezes within minutes, every time. It might not be a PyCharm issue per se, because access to the Linux files from Windows using explorer.exe fails at the same time. But so far I've noticed this problem only when using PyCharm. Having said that, I did not test many other programs, because not being able to edit code is a show stopper.

Is anyone else seeing this?