Slow Rendering on Media Encoder v23.3

Projects from Premiere Pro were rendering slowly. They started fairly fast, then slowed down as the render continued. I rolled back to v23.2.1 and it is not rendering much, much faster. In fact, it finished an hour long project in 7-8 minutes. With 23.3, the same project ran for 10 minutes, slowed down, and the remaining time counter started going back up instead of counting down. I eventually stopped the render, rolled back to the previous version, and finished the job in a jiffy. There's definitely an issue in v23.3.