Yes, a priori the minifier has been completely revised from the beta r227 and seems already much faster (nothing to do with the stable r225, sorry, I got a little tangled up because it happens to me to switch between different versions for testing).
As you both indicated, it must therefore ultimately and in fact be a problem of file size or other processing.
For my part, I'm having a lot of problems with the Photon addon and Win64 export, latest NW.js version (v0.50.0, Chromium 87).
Stable r225: ok without minifier, but "failed to export project" error with a simple or advanced minifying.
Beta r228: ok without minifier, but "black screen" when projects exported with simple or advanced minifying are launched.
Hoping that the next stable versions will correct, improve and optimize all this.