Switching dimension tremendously slower in 1.18.2

Switching dimension in single- and multiplayer using the 1.18.2 client takes about 4-5 times longer than in 1.18.1.

Video demonstrating the issue: https://www.youtube.com/watch?v=J0sH6168kiU

Steps to reproduce:

1. Create a new world in 1.18.1
2. Build a nether portal and travel to the nether
3. Travel back and forth, notice how it takes about one second to travel bewteen dimensions on 1.18.1
4. Do the same thing on 1.18.2 and it takes 4-5 times longer