Folks, I think I've at least pinpointed the issue. Spoiler Alert: EXCHANGE ACCOUNTS (thought it was a Gmail account)...read on.
I *thought* I had this pinned down to a lone Gmail account (old one...with A LOT of stored emails...>15,000)....even though a few on this thread have said they don't have a Gmail account. I'd turn that Gmail account off and it would behave...then even with it off, it started spiking CPU today.
I've been trying to fix this for awhile now. Nothing seems to work. I've been on screen sharing with Apple Support. It's been sent to Dev at "low priority" because there are other email client options. :(
This one is working so far. I've only given it about 30 minutes (which I know it can take longer to get it to spike CPU after a bandaid fix). But I want to see if anyone has the same scenario as me.
Again, I thought I had it pinned to a Gmail account and then a read a post (of maaaaaaany out there). The poster had a mix of Gmail and Exchange accounts. hmmmmmm...I added 3 Exchange accounts (which I've not had in a decade) towards the end of the year..about when the problems began...and about when I upgraded to Catalina too.
So what the ****...I disabled Mail, Contacts, Calendars, etc. for all of the Exchange Accounts in System Preferences > Internet Accounts...and left the 'suspect Gmail account' active. NO CPU SPIKES!!!! (Even when I close and open Mail, accountsd doesn't spike above 60% CPU!!!!
*** QUESTION: I'd like to know if any of you DO NOT have at least one Exchange Accounts on here. ***
The Problem: I haven't tried the method mentioned in the link below to actually add them back. According to the post, the fixes was to disable Email Archiving in the Exchange Control Panel. I do not have access / permission to this. :(
But at least I can use Mac Mail for my non-Exchange Accounts...the lion's share of my emailing needs. I'm using Outlook for the Exchange Accounts. I know this won't help everyone long-term, but I feel like it might at least be the source of the issue. Maybe someone can try troubleshooting down the Exchange path and find a resolution for non-Exchange-Admins and let us know.
I'll use Outlook until I find the time to do the full instructions to add them back to Mac Mail but if it comes down to the Exchange Control Panel, I'm SOL. Might have to live with Outlook for those accounts :( :( :(
Go to the reply starting with "My 2020 Update" by vip4lyf here: https://www.reddit.com/r/MacOS/comments/dja9ne/mac_mail_on_catalina/
P.S. I have one other older iMac that has NOT been upgraded to Catalina and Mac Mail is configured for one of those very same Exchange Accounts. ZERO CPU issues.
Hope this helps.