You may not have many extensions but one bad one could slow you down. I would try disabling them one by one and seeing if it effects performance.

If your auto save is on, try turning that off and seeing if it effects anything. Eclipse used to get really slow on me when I would save the project to onedrive, so maybe check where it is saving to, though I wouldn't expect a small project in vscode be that bad for syncing.

Other than that, I would definitely try a reinstall if you haven't already, fixes a surprising number of issues.