A context menu item can open slowly because Windows has to load and initialize all registered shell extensions for that menu and each has to check what it can do with provided files, each time your right-click. If even one extension is slow, it delays the whole menu.
The only way is to find and disable slow context menu items with shellexview or uninstall those extensions.
If you have google drive, it is worth restarting their background service from time to time (known issue for years), but if menu opening is slow even after computer restart, then there is some badly written context menu extension.