Open a project...
Add an audio track that's an hour long.
Set markers on either side of a 4 minute range.
Move to the markers and split the track.
Select the clip and choose normalize > -3 dB.
(Does it quickly normalize only the clip?)
Now, select the clip and choose bounce to tracks.
(Does it quickly bounce?)
For me, my project had 4 tracks for 2 hours at 96. When I choose bounce it sometimes goes normally and sometimes takes a really long time and then includes silence for the whole project on either side of the range I meant to bounce.
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I have the range properly selected when I choose bounce to tracks.
This is a workflow I use a lot. I'm not making a mistake.
I worked around it by re-splitting the clips. This fixed it. I had to do it over and over and over.
I'm not sure if it had to do with the Windows 10 updgrade that occurred right before I started having problems.