Application launch slowness when using Cloud Cache

We are using FSLogix Cloud Cache and seeing a 5-10 minute delay in application launches when we first login. Programs like Slack, Connectwise Manage, and Firefox. Cache is local on a Citrix Xenapp Server running Server 2019 provisioned from Machine Creation Services. Storage is an All Flash Nimble SAN. There is only 1 CCD repository, which is an SMB share from a local server running on a Nutanix Hybrid Hyper-Converged Cluster. This server used to provide the VHDX files via VHDLocations and we just moved to CC. From what we can see, at first login, the cache VHDX file gets created and it grows to about 400MB without opening any apps. If we try to open certain applications, they don't launch for along time. If we wait for the initial cache to build itself to that ~400MB size, there is still a delay in the application launching but not as long. Connectwise grows the cache disk usage on disk by about another 200MB, Slack is only 12-20MB.

My understand of the solution is that the reads should come from the CC remote repository first then cache locally but I'm not sure why it seems like the cache needs to build itself first before it can even begin to read/write to the cache disk. Like the reads are delayed while the cache disk is first getting built instead of just coming from the remote repository location and then the OS is waiting for reads...