Update after additional attempts to figure out this problem: Spotlight is definitely broken in some way and probably in multiple ways.
I tried limiting the Spotlight search results to *only* Calculator in System Preferences -> Spotlight -> Search Results, unchecking all options except for Calculator. In this case Spotlight fails to give any results even if I put some trivial calculation in the spotlight window. If I give it some other input (a file name, for example), it correctly states "no results", which makes sense because I turned off everything except calculator, but it also gives nothing when I give it some calculation to do. Clearly Spotlight is not correctly parsing and utilizing the categories you tell it to in system preferences. This is probably an unrelated bug to the OP's and my original problem of high CPU usage.
I then tried adding one other additional category for Search Results (applications, or documents, or spreadsheets, etc). This gave even stranger results, with Spotlight sometimes doing the calculation and sometimes not. If it did do the calculation, the CPU usage spiked like it did before. I didn't debug this extensively, but it seemed to depend on whether the other category was before or after Calculator in the list of possible Search Results. I only got it to reliably use the calculator from within spotlight if I had many categories checked.
So my best guess as to what's happening here is that spotlight is trying and completely failing to take our input (some simple math problem) and send it to the right destination (calculator app) to get the answer and return it. Perhaps it first searches all file names and contents for the string of the calculation before falling back to the calculator app if that doesn't return anything, in which case maybe it's a matter of rejiggering the priorities for what things Spotlight searches in what order.
This is a really frustrating experience. Judging from the energy usage in activity monitor, Spotlight has typically been responsible for ~20% of the total power consumption of the system when I'm on battery on my 16" MBP. This is just completely insane given how intermittently it's used and how trivial the computations are that I'm asking it to do.