Magnetic Mask should not "suddenly" become slow. However, it is sensitive to the clip duration. If you use it on a 60-second clip, then try it on a 15-minute clip, it may appear to suddenly become slow; however, analysis or export performance has always been dependent on the clip length, and it gets much slower on longer clips. In general, don't use it on a clip longer than 5 minutes. If you have a 30-minute instructional lecture and want to mask and adjust the speaker, blade the clip every 5 minutes and do those separately.
There may be possible interactions with other effects, but I don't remember those. I suggest you take a test clip, put that on a timeline with no other effects, use Magnetic Mask and check analysis and export performance. If that is also slow, give us the specifics. If it is fast, then incrementally add the effects used on your original timeline and see if it suddenly becomes slow with certain ones. State what those effects are.