I'm on windows 10 with 8gb of ram and a Radeon RX 580 with 8 gb of Vram.
I'm playing the game with the widescreen fix including alternate widescreen 2D art.
The cutscene after the cave level freezes always when the guy is opening his eyes after he slides out of the ice cave, the audio continues for a few seconds and then it stutters like an old vynil disc getting stuck.
I have tried reapplying the multipatch and adding exceptions in windows defender.
I'm playing with a keyboard so no controller emulators of any kind are running.
I have also disabled all the "gaming features" of windows 10 from the control panel.
Note that the starting cutscenes run just fine.

I could probably watch the cutscene on youtube but I'd prefer not to exit the game to do the same in case there is another cutscene with the same problem later.

Sorry for replying to this old post, but I am experiencing the exact same issue. I recently started playing TR3 again and everything worked fine so far. All the sounds and FMVs work fine except the cutscene men tkioned above which freezes for me at the exact same positions and afterwards I get stuttering sounds. Only way to move on os to hit excape to aboprt the cuscene. Does anyone know of away to fix this?

At this point I don't even remember if I solved the issue.
I got fed up with the game a few levels later and only decided to try and finish it a few weeks ago, I'm almost to the end and I can say that its way of making the game more difficult is just cheap and I don't dare to think how it must have been to play on console with limited saves.