You're not really going to be able to get an estimated completion date. I recommend planning for as much time as you reasonably can; Workspace Migrate can be finicky. In my experience (which is a bit stale, it's been a year or more since the last time I used the tool), you may be able to chew through most of the migration relatively quickly, but then wait a significant amount of time for a relatively small percentage of users to finish migrating. Sometimes, stopping the migration and re-running at this stage can help, as it can seem to be a bit stuck at the tail end.
You can try to extrapolate by running a scan to get the total number of items, and then calculating out the rough # items/hour migrated after the migration has started, but this won't really work out well. There are always some small percentage of accounts at the tail end of the migration that take significantly more time, and the items/hour count will plummet during this phase. Best case, these users will just be rate-limited and just have a large number of items, but there might be some items that Workspace Migrate can't migrate but will be retried several times on exponential backoff that delay the migration from completing.
I recommend planning for roughly 3 migration passes (for the main group of users; just the first and last passes are likely all that needed for your pilot/early adopter groups, though it might still be worth practicing the second pass with these groups as well):
1. The main pass, which migrates the bulk of the data. I usually configure the migration so it doesn't migrate any data newer than 2 weeks prior to the start date of the migration pass (e.g. nothing newer than Nov. 17, if I started migrating data today), to help avoid migrating data in this phase that might be updated by the user before the end of the migration (such as moving/deleting an email, updating a calendar invite, etc.). This pass should take the most amount of time to complete, and I usually like to re-run it a few times to help ensure that any temporary errors during the migration pass have another chance to be processed again.
2. A preparatory delta/incremental migration pass, to help determine how much time will be needed for the final delta migration pass. Ideally, this pass occurs at least 1-2 weeks after the main migration pass started, so that there is at least 2 weeks of "new" data to process, to more closely resemble the final delta migration pass. The cutoff dates for data in this pass should be from the previous start date up to maybe 1 week prior to "today's" start date (e.g. from Nov. 16 to Dec. 8, if this pass started Dec. 15). The final pass will include future data (e.g., future calendar events), so this pass won't be exactly the same, but it should be close enough. This pass will let you know if the final pass can complete over a weekend, or if you'll need more time or to try to adjust the cutover plan.
3. The final pass, which only includes data newer than the cutoff from the previous pass (e.g. anything newer than Dec. 7). This should start after the MX records have been switched and the TTL has expired (remember to reduce TTL to 5 minutes at least 24 hours in advance to expedite this). In my experience, a weekend is typically enough time for this to complete, but the second pass above will guide you here. You can tell your users to stop using Outlook end of day Friday, and to begin using Gmail start of day Monday, for example. It's technically fine if they begin using Gmail right after the cutover team (even if the MX records haven't switched yet), they just won't see their recent emails and upcoming calendar events until after the final migration pass finishes processing data for them.
I usually like to run a final delta pass that includes all data for all time as well, just to be extra certain that absolutely all data has been processed at least twice. Delta passes only make API calls to Google for items that Workspace Migrate did not record as successfully migrated, so the delta pass is relatively safe to run while users are actively using their Google accounts.
In terms of expediting the migration itself, you can look at the quotas page in the GCP console for the project to look at which API's may be hitting their quotas, and then requesting quota increases on the appropriate API's. This can help the migration run faster during the main pass, but you should plan for lots of time during this phase anyway, and it will likely take some time to identify which quotas are hitting their limits and getting those limits increased. The increased quota limits technically can help during the crucial final pass as well, but you're much less likely to run into limits enough to significantly impact the duration of this pass anyway, as there will be significantly less data to migrate during this phase.