Is there a way to speed up working with large files in Photoshop? Like proxy editing?

I am currently using a camera that produces 60mp+ raw files which I pre-correct in Lightroom and then load into Photoshop for final editing.

As I have around 10 layers with various corrections, the file size ends up somewhere between 2 to 3 GB per photo. Plus I have to use Photoshop’s large file format. At this size, my iMac (32 gb, Quad Core i7, AMD Radeon R9 M395X 4 GB) starts to become a bit sluggish. Quick-saving takes around 1.5 minutes (all on local SSD).

I wonder if there is a way to export a downsized version from Lightroom, edit that and then reapply the whole history to the full size raw in one go. A bit like proxy editing in filming.

If there any tricks that you can share?