Very slow performance - 700ms+ response time

I created a new Gitea server with the latest version on one virtual Windows 10 PC.
Then I created an IIS webserver and an application that points to Gitea on another virtual Windows 10 PC on the same physical computer.

When I open the Gitea website through the IIS webserver (even on the virtualization host) the response is very slow on every click.
I’m just navigating in an almost empty repository.

Opening the website on the vm that runs Gitea makes it run fast, with fast response times.

I have tired SQLite and MSSQL db too.
The host is a high-end computer so hardware can’t be the issue.

What am I doing wrong? Why could it be so slow?

Just clicking on any of these is really slow

So what did you think it’s fast? How much time?