Thanks Phil! Indeed, adding Exiftool to the Windows Defender exclusion list has improved performance on my PC.
I also would like to add problems I recently encountered with Acronis True Image 2019, specifically with the Acronis Active Protection feature. I recently noticed a severe slowdown using Geosetter (which uses Exiftool) and traced it down to True Image. That application also provides an exclusion/whitelist under Managed Processes in the Active Protection Settings.
Ref: Active Protection blocks legitimate applications
https://kb.acronis.com/content/60193