If you access your Windows drives from Linux, it is very slow under WSL2.
This thread reporting the issue is more than a year old.
If you are like me and value the convenience of being able to access Windows files from Linux, you can convert your distro instance back to WSL1:
wsl --set-version Ubuntu-20.04 1
It is not possible to do development across platforms otherwise... You'll be giving up on new features introduced in WSL2; apparently increased file system performance was one of them.