The last step of Project→Update is ‘Refresh status information'
Usually it does not take very long, a couple of seconds, but in some projects this can take up to a minute.
Waiting on the previous step makes sense, since you will need to know about any conflict right away, but waiting on the status information to get refresh is not needed.
Move 'Refresh status information' to a background task, fire and forget and thus shorten the time waiting on the Project->Update.
Same for Project->Commit
NB. The modeler does have the option “edit->preferences->Auto-check delay”, but that does not prevent us having to wait on 'Refresh status information'