Windows 11 VM extremely slow

I have Proxmox 8.3 on a HP Proliant server with RAM: 128GB and CPU: 48 x Intel(R) Xeon(R) CPU E5-2650 v4 @ 2.20GHz (2 Sockets)

No matter how I tried to configure a VM with Windows 11, I always get an extremely slow machine.

I use VirtIO drivers for disk (on local zfs filesystem), network and balloon.

For CPU I tried setting Type to host/qemu64/x86-64-v2-AES; I tried enabling and disabling "Balloon"; I tried setting...

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