I had org-highlight-latex-and-related set to '(latex script)) and found that this (which triggers the running of org-do-latex-and-related ) seems to incur quite significant performance hits, especially with large Org files. (Even moreso, I think, if they have lots of headings - https://github.com/jdtsmith/shakespeare.org is a good example for this.)
Running with Emacs 30.0.93 and Org-Mode 9.8-pre.