• Real-time 3D Draft Preview in After Effects gives users immediate feedback on 3D designs in the Comp panel so they can make creative decisions faster and iterate on designs more easily.
• 3D Ground Plane in After Effects helps designers orient in space, providing a horizon line, vanishing point, and grid with snapping for positioning and aligning objects with precision.
• More Efficient Composition Toolbar in After Effects is more logically organized and presents tools contextually, based on the current task.
• Media Replacement in Motion Graphics templates, enabling creators to step up their personal brand, add visual style to their videos, and use templates to provide dynamic visual treatments — all without having to know After Effects.
• Multi-Frame Rendering in After Effects (public beta 18.1×21) may provide 3 to 5x faster rendering when exporting compositions with multicore CPUs. About 200 of 290 plug-ins that ship with AE will support MFR. See the MFR FAQ, and let’s all route for plug-in developers!
• A streamlined Render Queue now highlights the most important information to simplify the export process

Michelle Gallina at Adobe has some extra details in Multi-Frame rendering now in After Effects beta.

Learn How To Edit Stuff is already excited about his quick testing with MFR:

Premiere Pro What’s New

• New Captions Workflow in Premiere Pro offers a comprehensive toolset for quickly adding, customizing and stylizing captions and subtitles. The Captions workflows will be further accelerated by Speech to Text features later this year.
• Copy and Paste Audio Track Effects Racks in Premiere Pro — along with the option of copying individual audio effects, users can now copy and paste complete audio effects racks between audio tracks.

See VIDEO MASTERCLASS | Newly-Released Features in Premiere Pro and After Effects! and DavTechtable’s summary, both from Adobe:

Premiere Rush What’s New

• 24 new color filter presets in Premiere Rush (desktop and mobile) give users more creative options for adding visual impact to videos.

Character Animator What’s New

• New robust project file format for newly created or Save-As projects that’s faster and more compact, as well as being more resilient to power loss and file-syncing conflicts.
• A new example puppet, Hopscotch the Fro, showcases Limb IK and comes with many hand and feet Triggers as well as a Replay for hopping off screen.
• Timeline snapping options, Snap to Frames and Snap to Objects let you control snapping to frame boundaries and other objects in the timeline.
• Walk Behavior defaults on the Pin Feet When Standing option.

Audition

• Insert Recording mode in Audition allows users to punch-in new recordings anywhere in an audio file, rippling existing audio forward, without having to manually cut-in a separate audio segment.

Cross-app updates

• Faster Warp Stabilizer in Premiere Pro and After Effects optimized analysis provides a 4x speed gain for reducing camera shake in UHD footage.
• Public Beta: Adobe encourages users to try and provide feedback on Multi-Frame Rendering in After Effects and other new features in the public Beta.
• Expanded format support now includes the ability to import ARRI Alexa Mini footage in Premiere Pro, After Effects, and Media Encoder.
• Equitable language and reference imagery updates across apps better respect the diversity of users and a desire to enable “Creativity for All.”
• Rollover to 2021 naming for Premiere Pro & After Effects
• Cloud-driven collaboration and remote work — the last year has shown that teams need to work efficiently regardless of their location. Premiere Pro and After Effects use the cloud to enable remote collaboration, like Creative Cloud Libraries for organizing and sharing branded assets and Team Projects, which give editors and motion graphics artists a common project file format for secure collaboration.
• Team Projects enhancements allow user to share changes to projects more quickly and search in projects twice as fast as before.