Even after updating to 14.5, the problem persisted for me on my M3 MacBook Air. Unrelated, I was having trouble with my 2.4 GHz WiFi. I disabled 2.4 GHz for 5 GHz and also switched from WPA2 to WPA3 security. The Mail problem since stopped. It also solved the problem of Mail hanging when quitting it.
I realize that trying this potential solution may not be feasible for everyone.
I realize that trying this potential solution may not be feasible for everyone.