I just downloaded the Trial & tested a very recent project created in VP22. (didn't want to hijack someone elses post)
Exactly the same project, a mix of Samsung S23 phone clips & GoPro11 clips, all UHD 29.97fps. MediaInfo says variable for the phone & constant for the GoPro11.
Simple project with 15fr crossfade between each event, 2/3 down the timeline there's a few 9:16 with BCC Reframer (Black bar fill) on them. (marked with red line in pic)
Magix HEVC render template.
VP22 render time 10.07mins.
VP23 render time 15.09mins.
I've had a look in Preferences etc & everything seems the same as VP22 unless there's something new or something I'm missing..