Hi,
A degradation in production performance within just two months is generally unlikely to be caused by a single factor. Multiple aspects should be analyses before identifying the root cause.
As per Microsoft best practices, please verify the following:
Review the Power Platform Admin Centre to check the overall health of the production environment, including storage capacity, database usage, file storage, and log consumption.
Monitor database growth and ensure sufficient free capacity is available.
If records are frequently shared and unshared, review the growth of the PrincipalObjectAccess (POA) table, as excessive POA records can significantly impact Dynamics 365 performance.
Analyse plugins, synchronous workflows, Power Automate flows, JavaScript, integrations, and long-running queries that may be affecting response times.
Review audit logs, bulk data operations, duplicate detection jobs, and system jobs for abnormal growth.
Monitor SQL performance, API throttling, and integration latency if external systems are involved.
Establish monthly health checks and monitor key performance metrics proactively so that corrective actions can be taken before they impact production.
Following Microsoft's performance and governance best practices, along with regular monitoring of environment health and database growth, will help identify the root cause and maintain optimal system performance.