Unbearably slow iCloud sync, serious problem (fileproviderd)

Hope to find some help here...

Problem

I am unable to sync iCloud files since 3 days now (Snonoma 14.5). It is unbearably slow.

I tried to disable sync from system preferences, did many restarts - nothing helps.

In Console I see hundreds of errors about some SQL statement that is "significantly too slow":

[ERR 2024-07-13 08:41:13.922+0200] fileproviderd[661] com.apple.CloudDocs.iCloudDriveFileProvider/7{34}4 🐌 Significantly too slow SQL statement

• See screenshot here
• This how it looks like in the finder

The indicator changes verrrrry slowly (last digit counts up maybe once per minute)

Someone having similar issues and knows how to resolve? <hope on>

Thank you!