I have created a new GPG encrypted wallet in kwallet to store some manual passwords (i.e. I am not using it as default wallet).
Opening it is, however, very slow. After clicking open, it takes several minutes until the password prompt appears.
After entering the password, it takes again some time until the wallet opens.
I do not see CPU or memory usage going up during those waiting periods, so I don't know what is causing that.
I am using current KDE neon user packages and reproduced the issue on a second system (same packages though).

Does anyone else observe this behavior or have ideas what may be causing this?