I beleive my Lightroomn classic is not using the graphics acceleration. It lists my garphics card and is set to automatic in performance but it is much slower than Bridge. I converted 39 .nef photos to .dng. In Bridge, it took 7.5 seconds and in Lightroom, it took 35.2 seconds. Same photos using same conversion settings. Also, I heard the fans on my graphics card kick in when using Bridge but not when using Lighroom.
All is more than good on the system performance standpoint. Running AMD 5950x, RTX 3070 graphics, 6TB of NVMe 4.0 SSD, 64 GB memory. Since the performance difference was on the same machine with the latest versions of Bridge and Lightroom, it would seem the issue is with the software.