2012 iMac slow with Catalina 10.15.4 (19E287

A Troubleshooting Procedure that may Fix Problems with macOS El Capitan or Later

You should try each, one at a time, then test to see if the problem is fixed before going on to the next.

    If possible, backup your files before proceeding.

1. Shutdown the computer and disconnect all third-party peripherals.
2. Wait 30 seconds before you restart the computer.
3. Resetting your Mac's PRAM and NVRAM
4. Reset the System Management Controller (SMC)
5. Reset your Startup Disk and Sound preferences, if needed, after resetting the PRAM.
6. Test in safe mode to see if the problem persists, then restart normally.  Use safe mode to isolate issues with your Mac and Playing Safe - what does Safe mode do?
7. Repair the disk by booting from the Recovery HD. Immediately after the chime hold down the Command and R keys until the Utility Menu appears. Choose Disk Utility and click on the Continue button. Select the indented (usually, Macintosh HD) volume entry from the side list.  Click on the First Aid button in the toolbar. Wait for the Done button to appear. Quit Disk Utility and return to the Utility Menu. Restart the computer from the Apple Menu.
8. Repair permissions on the Home folder: Resolve issues caused by changing the permissions of items in your home folder.
9. Create a New User Account Open Users & Groups preferences. Click on the lock icon and enter your Admin password when prompted. On the left under Current User click on the Add [+] button under Login Options. Setup a new Admin user account. Upon completion log out of your current account then log into the new account. If your problems cease, then consider switching to the new account and transferring your files to it - Transferring files from one User Account to another.
10. Download and Install the macOS Catalina 10.15.4 Combo Update.
11. Reinstall OS X by booting from the Recovery HD using the Command and R keys. When the Utility Menu appears select Install OS X then click on the Continue button.
12. Erase and Install OS X Restart the computer. Immediately after the chime hold down the Command and R keys until the Apple logo appears. When the Utility Menu appears:

     1. Select Disk Utility from the Utility Menu and click on the Continue button.

     2. When Disk Utility loads select the drive (out-dented entry) from the Device list.

     3. Click on the Erase button in Disk Utility's toolbar. A panel will drop down.

     4. Set the Format type to APFS (for SSDs only) or Mac OS Extended (Journaled.)

     5. Click on the Apply button, then wait for the Done button to activate and click on it.

     6. Quit Disk Utility and return to the Utility Menu.

     7. Select Install OS X and click on the Continue button.

Ways to Help Make a Slow Mac Faster

1. 17 Reasons Why Your Mac Runs Slower Than it Should
2. Slow Mac Performance? This Article Solves It!
3. Fix slow start-ups in OS X | MacFixIt - CNET Reviews
4. How to fix slow shutdown and startup times. | MacTip.net
5. 6 Easy Tips to Speed Up OS X Yosemite on Your Mac
6. OS X El Capitan- If your Mac runs slowly
7. Visit The XLab FAQs and read the FAQ on Performance
8. Tips to Fix Issues that affect Mac Performance
9. Avoid using any third-party cleanup software. Usually, this software does more bad than good. You don't need it. All computers become slower over time even under normal use. Experienced users erase the hard drive and do a clean install from scratch from time to time; or whenever installing a major OS upgrade. Doing so means you must maintain regular and multiple backups.
10. If you have enabled iCloud Disk and are storing your Documents and Data in iCloud, then consider turning that off and signing out of iCloud. It can slow down the computer considerably. Please see the following from the user, fotomac: "The solution was to SIGN OUT of iCloud and my problem STOPPED! NO MORE SPINNING BEACHBALL! My computer's speed increased to what it should be and all my Apps now work!"
11. Add more RAM or cut back on the number of concurrently running applications and utilities. Remove unnecessary anti-malware software and any software that promises to clean your Mac. Check for runaway processes: Runaway applications can shorten battery runtime, affect performance, and increase heat and fan activity. Also, visit The XLab FAQs and read the FAQ on dealing with The Spinning Beach Ball of Death.
12. The Ultimate Fix: Backup everything, erase the drive, reinstall OS X, and restore your data from the backup. Reinstall third-party software from original media/scratch.

Mike, if speed is a concern avoid the bottom end iMac.