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I shoot slog3 4k 422 10 bit , and I check this option for automatic colorization in rec709 and warp stabilizer works extremely slowly. With this unchecked option, warpstabilizer works quickly Adobe, you disappoint every day
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What camera?
As some Slog3 is longGOP, in other words, a few actual frames (1 every 9-30 "frames") and a bunch of data used to compute the 8 to 30 frames in between from.
So if that is this media, there is an added process overhead to the most intensive computing effect in Premiere.
And add auto detect log, which means Premiere then applies a mathematical algorithm to every frame also ....yea, the computing load per frame is horrendous.
In that case, I would suggest applying say Warp, do a full Render & Replace operation to the clips, and use that rather than original clip moving forward.