With a debug build I still can't reproduce any slowdown. The project is colossal and in my un-optimized build it took maybe 30 minutes to open. This suggests that anything that would be slow will be super-slow. However editing an action, or adding a new action, opens the dialog within around ~1 second.
I have a fully-patched Windows 10 with the Fall Creator's Update - version 1709, build 16299.192. The CPU is an i7-6700K 4 GHz, but as I mentioned before, running a debug build of C2 with no optimisations usually more than cancels out any performance overhead from this high-end hardware. The fact the project took so ridiculously long to open is a good example of that.
So I still can't reproduce any problem and I have no idea what might be happening. If the problem really is a recent Windows Update, then isn't the problem Microsoft's fault anyway? Is it fair to expect a small company to pick up the pieces of their mistake?