Moving any file to the trash is painfully slow and causes kioslave5 to fully use a single core for about 10 seconds. In that time, the KDE notification at the bottom right of the screen hangs at the "to Trash" stage.
I do not experience the problem when permanently deleting files (shift+delete).
I already tried disabling "Delete files older than" and size limit options, as someone on forums suggest. Unfortunately it did not work.

STEPS TO REPRODUCE
1. Fresh installation of Kubuntu LTS 22.04 on a single partition with LVM encryption.
2. Move a file to trash (delete key)

OBSERVED RESULT
About 10 seconds to move to trash even small files.

SOFTWARE/OS VERSIONS
Linux/KDE Plasma:  Kubuntu 22.04 / KDE Plasma 5.24.7