This is still an issue in 1.18.10, I recently started making an addon and i thought it was something to do with my texture pack in particular but it seems its not. If you want i can link the pack below.
btw, im on a pretty high end device and it still takes 5+ seconds
This affects almost all waterloggable blocks with the exception of dripstone and buttons and always happens at chunkborders, i have attached pictures with my testing and a world download if necessary.