"Ignition OSTree: Restore Partitions" takes almost 5-10 mins to complete while booting the nodes with RHCOS image iso

Description of problem:

I am trying to deploy Hypershift Agent-based Installation using MCE 2.4.0. When I try to boot the compute nodes with the generated latest RHCOS image iso, the "Ignition OSTree: Restore Partitions" takes almost 5-10 mins to complete

[    **] A start job is running for Ignition… Partitions (14min 20s / no limit)
[     *] A start job is running for Ignition…e Partitions (15min 1s / no limit)
[  OK  ] Finished Ignition OSTree: Restore Partitions.

Version-Release number of selected component (if applicable):

OCP 4.14.0

RHCOS: rhcos-414.92.202308032115-0 nightly

https://releases-rhcos-art.apps.ocp-virt.prod.psi.redhat.com/?stream=prod/streams/4.14-9.2&arch=ppc64le

How reproducible:

Always

Steps to Reproduce:

1. Installed multicluster-engine.v2.4.0-90 operator and created an instance of it.
2. Created an AgentServiceConfig with the following details:

   export DB_VOLUME_SIZE="10Gi"
   export FS_VOLUME_SIZE="100Gi"
   export OCP_VERSION="4.14.0"
   export ARCH="ppc64le"
   export OCP_RELEASE_VERSION="414.92.202308032115-0"
   export ISO_URL="http://141.125.107.143/rhcos-16157/rhcos-414.92.202308032115-0-live.ppc64le.iso"
   export ROOT_FS_URL="http://141.125.107.143/rhcos-16157/rhcos-414.92.202308032115-0-live-rootfs.ppc64le.img" 

   3. Created an OCP 4.14.0-ec.4 Hosted cluster

   hypershift create cluster agent \
       --name=${HOSTED_CLUSTER_NAME} \
       --pull-secret=${PULL_SECRET_FILE} \
       --agent-namespace=${HOSTED_CONTROL_PLANE_NAMESPACE} \
       --base-domain=${BASEDOMAIN} \
       --api-server-address=api.${HOSTED_CLUSTER_NAME}.${BASEDOMAIN} \
       --ssh-key /root/id_rsa.pub \
       --release-image=${OCP_RELEASE_IMAGE} --render > render.yaml

         4. Created InfraEnv which generates ISO

Actual results:

After the agent is approved, the booting of the worker node becomes slow.

Expected results:

Booting of the node should complete within a few minutes.

Entire logs:

https://drive.google.com/file/d/1RC7HTcO-Ho8w--MvqxeIeD1wx9R6SJxO/view?usp=drive_link