Best way to set up cubase and an SSD External hard drive

So i’m trying to finish a song but experiencing latency issues due to low processing speeds on my MAC. I bought a T7 samsung ssd and have all the project files on that and have the project location correct in cubase. Ive been doing some research and idk what i’m looking for. I get you can freeze tracks and stuff but shouldn’t i be able to perform on my system without those tricks if the work load is distributed evenly? Please help!! I have a “WD easy store 1tb” and the Samsung T7 SSD. If i could get some tips on possibly how to get a better work flow using these external drives, I would be SUPER GRATEFUL!! Thanks