It is fast for me. No more than 15 minutes. Usually 4-5 minutes. Don't agonize over min/maxing. Go with standard packs of equipment. Grab a few standard spells and some that might be cool or fit your character concept.Which works great! IF all of character creation is just as fast as this bit. But in 5e, that's not the case.
So what can we do to make it the case?
IME, it only takes a long time when someone agonizing over evaluating every possibility. Instead, come up with a concept and go with it.