I wanted to write earlier, that the descriped behavior sounds like overheating issues, and here are my notes:
CPU is ok to push itself to 95%
if it does not throttle. It can be so that even when CPU throttles, lowers the clock speeds to cool itself down, there is still not enough coolling and it just stays on 95%, just to keep working and to not bluescreen the machine.
Other users have already reported that v12 update 1 hotfix 1 has solved the lagginess issue(s) for them.
So, to make sure the issue is not v12 update 1 hotfix 1 related (or Corona related), please try earlier versions, specifically v11 or v10, if you can, or other CPU intensive workloads.
Earlier versions can be downloaded from:
https://www.chaos.com/corona/3ds-max/download/old