slowbackend – Standard Magento 2.35.-p2 install gives slow performance

We have a Fully Managed SSD Cloud VPS hosting account with the following:

4 x 2.50GHz Cores
5 TB Bandwidth
5000 Mbps Network Out

I installed Magento 2.3.5-p2 standard out-of-the-box installation via Softaculous with sample data but when I log in through the Admin panel – there is always a 5 second delay with anything I click on (the circle comes on for the 5 seconds). Also the front end is slow. This was confirmed by the hosting company’s tech who had the same loading delay (he says 4-5 seconds). Standard Cache is enabled. There were NO modifications made whatsoever – we didn’t load any customers, products or orders; we didn’t install any extensions either.

Why is this happening and what can we do to get rid of this performance issue?