Created an account to further lend weight to this really frustrating issue.
While the game ran fine in the first few hours, now we are 20+ hours into a playthrough, still in act 1 - the game hangs / freezes in split screen coop every single time without fail when:
* we use L2 to switch party members * split or group party members * allocate characters to people in the multiplayer menu * change turns in combat * cast a transformation effect spells * cast a summoning spell that adds a controllable unit like spirit weapon or an animal.
The freeze when summoning can last as long as 20 - 30 seconds. The game is great (!) however when you have two people doing all the above, it's really awful and barely playable in all honesty. It's making us instinctively not want to split party members when the game clearly intends us to do it for tactical reasons, not manage our or change gear because it requires character swaps, not change gear or do anything that requires switching between characters. We constantly find ourselves apologizing to the other because on of us switched characters while the other was doing something. Or we warn the other when we are about to summon etc...
If you have two or three characters casting a summoning spell at the start of a fight - you will summon (freeze for 20-30s), change turns (freeze for 2-3s), summon (freeze for 20-30s), change turns again (freeze for 2-3s) and then freeze again when you summon or transform. That's almost 2mins of freezing in the space of what should be 30s of gameplay - and the player is literally spending more time frozen than playing.
edit: they responded to my bug report within 5mins of it being submitted, even after the auto response coming in saying that responses may take longer than expected...They said its being looked into and to monitor social media.
Made an account just to support this, perfect summary of the problem.