Its slowness is also a function of security software or any other file system "filters" (I believe they're called) are installed.
For example, I run TortoiseGit which has a caching feature which is supposed to make it faster at showing what to commit. Disabling it increases the number of items I can delete per second in my Windows Explorer from about 1000 to about 3000 while making not making TortoiseGit operations meaningfully slower (that I can tell).
This is a Dev Drive [0] on my machine, it would probably be slower on my C: drive which has full Windows Defender real time file scanning.