I had "Reduce Transparency" check-box in settings turned on because I distaste semit-transparent interfaces. Was not noticing performance problems except one application - Ogranics Maps which were unusably slow after switching to another app and returning to maps so I had to restart it freqently (swipe up). I was thinking that the problem is with Ogranics Maps code.
After seeing this comment re-enabled transparency (iOS default) and Ogranics Maps working fast even if I switch between Organic Maps and other apps!
Also reported here for example:
https://www.reddit.com/r/iphone/comments/1d2ncvu/if_your_old...
Also reported here for example: https://discussions.apple.com/thread/255911835
Re-enabling transparency improved this a lot, also keyboard still hangs a bit from time to time. I’m always in power save mode, on an iPhone 12, running iOS18.