Insert waiting Library cache wait and Parse calls == Execution

Hi Team,

We have a SQL (Insert) which is waiting on library cache lock wait and when checked it has parse calls == executions and I am not understanding like why it is waiting on library cache lock.

It is an insert statement, I am checking the count in table however after these many executions, count is not changing. No issues with Shared pool(space is available in shared pool).

Is it that it is doing more search in Library cache since connections are closing and session_cached_cursors is set to default value.

I am thinking that it is because of app team connections are heavy and once session_cached_cursors is 100% used, it is searching for child in big shared pool and cusing library cache lock wait.