php artisan command very very slow after composer update

My php artisan command is very slow after running composer update. When i revert back and only do composer install, my php command runs fine. CLI cpu usage is around 50% and it takes around 30-40 seconds to complete php artisan. Normally this takes max 2 seconds.
I've tried the following commands in order after composer update:

php artisan cache:clear
php artisan config:clear
php artisan route:clear
php artisan view:clear
php artisan clear-compiled
composer dumpautoload

My composer.json looks like this:

{
"name": "factory/api",
"type": "project",
"description": "API",
"keywords": [
    "framework",
    "laravel"
],
"license": "MIT",
"require": {
    "php": "8.1.*",
    "ext-curl": "*",
    "ext-json": "*",
    "aws/aws-sdk-php-laravel": "~3.0",
    "coin/sdk": "^2.0",
    "fideloper/proxy": "^4.4",
    "fruitcake/laravel-cors": "^2.0",
    "guzzlehttp/guzzle": "^7.4",
    "laravel/framework": "^8.12"
},
"require-dev": {
    "barryvdh/laravel-ide-helper": "^2.13",
    "facade/ignition": "^2.5",
    "fakerphp/faker": "^1.9.1",
    "laravel/sail": "^1.0.1",
    "laravel/tinker": "^2.5",
    "mockery/mockery": "^1.4.2",
    "nunomaduro/collision": "^5.0",
    "phpunit/phpunit": "^9.3.3"
},
"config": {
    "optimize-autoloader": true,
    "preferred-install": "dist",
    "sort-packages": true
},
"extra": {
    "laravel": {
        "dont-discover": [
        ]
    }
},
"autoload": {
    "psr-4": {
        "App\\": "app/",
        "Database\\Factories\\": "database/factories/",
        "Database\\Seeders\\": "database/seeders/"
    }
},
"autoload-dev": {
    "psr-4": {
        "Tests\\": "tests/"
    }
},
"minimum-stability": "dev",
"prefer-stable": true,
"scripts": {
    "post-autoload-dump": [
        "Illuminate\\Foundation\\ComposerScripts::postAutoloadDump",
        "@php artisan package:discover --ansi"
    ],
    "post-root-package-install": [
        "@php -r \"file_exists('.env') || copy('.env.example', '.env');\""
    ],
    "post-create-project-cmd": [
        "@php artisan key:generate --ansi"
    ]
}

}

Solution

Was caused by a package. Debugged by removing all dependencies and adding them one by one and running composer update after each addition.