I looked at your file this morning.
I kept your project as-is (4K resolution), I only adjusted the export path to put it on my SSDs disk and tested the following:
- PNG 16bit export : 7min50s
- EXR 32bit export : 2min15s
You spend most on your time writing the PNG files, which have a lossless compression format that takes quite a bit of time to compute. The computation is done on the CPU, hence why the GPU does nothing. Switched to another format without compression, like EXR here, save time on that. Given the amount of Texture Sets you have and the resolution, 2 minutes seems like reasonable to me.
We also have some plans to improve the exporter in the future given the upcoming new UDIM workflow, so the export time may improve a bit.