Performance: Slowness when running assign letters process after upgrading to 2.94

Assign letters processes that took under a minute to complete in version 2.9 are hanging or taking several minutes to complete after upgrading to 2.94.
Download and install the latest patch, which contains all fixes from previous patches. If you are running an older version, download and install the latest version and then the patch. 

Environment

 2.94.1524.8
 3.0.516, Service Pack 1 ; 2.94.1524, patch 38

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