Similar question to previous post a few years ago.
Build 19041.450
Problem: Occasional massive lag spikes on explorer.exe. Never happens after a fresh reboot, but happens with increasing frequency as system is up. Start menu also affected. Problem is solved by restarting explorer.exe, until time passes and the same thing happens.
At first I thought this could be the GDI tray issue again, but doesn't make sense with this version of windows. Anything else?
A clean install was tried which did not solve this problem, so maybe some sort of device driver funkiness (all updates were applied) or base installed software (Photoshop open "seems" to make the problem worse).
System does not seem to be starved of CPU (Ryzen 3950x), memory (64 GB), or IO (2 TB NVMe).