Performing the following (note the range of 10,000):

`importmulti '[{"desc": "sh(wpkh([aeee1e6a/49h/1h/0h]tpubDC5bVdaveQYxGFztMShFAjU637kKjrs9FD8ne1oHR7z8tLeQJExsaxWRVeSpcCcYMdp5ecf2LQhuVaeYFZ7YEpvWTJr4nDGUJrmuvLuTSsp/1/*))", "keypool": true, "timestamp": "now", "watchonly": true, "internal": true, "range": {"end": 1000}}]' '{"rescan": false}'`

takes many minutes. @achow101 reports a similar import taking 6 minutes on his machine.
{
    bool fUpdated = false;
    {
        LOCK(cs_wallet);
        std::map<CTxDestination, CAddressBookData>::iterator mi = mapAddressBook.find(address);
        fUpdated = mi != mapAddressBook.end();
        mapAddressBook[address].name = strName;
        if (!strPurpose.empty()) 
            mapAddressBook[address].purpose = strPurpose;
    }
    NotifyAddressBookChanged(this, address, strName, ::IsMine(*this, address) != ISMINE_NO,
                             strPurpose, (fUpdated ? CT_UPDATED : CT_NEW) );
    if (!strPurpose.empty() && !batch.WritePurpose(EncodeDestination(address), strPurpose))
        return false;
    return batch.WriteName(EncodeDestination(address), strName);
}
bool CWallet::SetAddressBook(const CTxDestination& address, const std::string& strName, const std::string& strPurpose)