Why did queries become slower after upgrading SQL Server 2012 to 2022?

I'm in the process of upgrading my current set of databases from SQL Server 2012 to 2022. I've ensured I've matched my resources/specs to ensure both Servers match. I am facing a huge performance decrease in the new SQL Server. Queries that took seconds on 2012 are now taking 10+ minutes in 2022. I've restored the databases from 2012 -> 2022 so the indexes/data are the same. I've also run statistics on all the databases/tables. Set the compatibility to 110 (Server 2012) I'm at a loss on how to proceed? I could try to tune every individual query but that isn't practical. I've used Blitz scripts, they have warnings due to my cache being unstable. This is expected since the new database would need to build a cache over time. It looks like my main wait statistic is Parallelism. Since my server CPU matches the old spec, I'm unsure how to resolve this. Thank you, Output of sp_PressureDetector.sql First screenshot is the 2012 Waits as per Request Erik Second screenshot is the 2022 Waits. When running the scripts I see CXCONSUMER is the number one wait when troubleshooting a particular query.