Description
In version 2312 build 17126.20190 you may experience a significant performance degradation with the classic "SQL Server" ODBC driver that comes with Windows. All types of operations with the driver may be slow and delayed. The affected build was rolled out to the Monthly Enterprise Channel starting on February 13, 2024.
There is a detailed bug report in this TechCommunity forum discussion.
Cause
Regression.
Status
Microsoft fixed the problem remotely on February 22/23 (depending on where you are in the world), two days after it was reported. There is no new build. Affected users just need to restart Access to restore normal performance with the "SQL Server" driver.
Just in case something goes wrong with your updates or the fix, we'll leave the previous workarounds here:
Workaround 1
If you are in the Monthly Enterprise Channel then try not to install version 2312 build 17126.20190 or roll back to an older build like 17029.20178 if you have already done so.
Workaround 2
You could (possibly only temporarily) change the update channel. Either to the slower Semi Annual, where the problem does not yet exist, or to the Current Channel, where the problem has already been fixed. See also the comment by Heinrich Moser below.
Workaround 3
Use a more modern driver like ODBC driver 17 or 18 for SQL Server.