how long does it take to restore iphone 7?

I have to restore my iphone after the screen broke and it blocked me out because it kept entering the password incorrectly on its own when the screen broke. I have been trying for a few hours to restore/reset my ipone 7 to factory settings but it doesnt seem to be doing anything when it starts "extracting software." I'm curious if this can take a long time?

I have downloaded the latest iTunes as well.

I have updated the iphone to the latest IOS and clicked restore on itunes when prompted but after a while it doesnt really do much when it starts "extracting software." My screen then comes up with an error saying:

"iTunes could not connect to this iPhone. An unknown error occured (0xE8000015)."

When i click OK, iTunes sayes it is still extracting software but my iPhone goes back to the homescreen saying "iPhone is disabled, connect to iTunes"