I agree it's a dying drive. The ata is here:
Performance:
System Load: 1.56 (1 min ago) 1.73 (5 min ago) 1.69 (15 min ago)
Nominal I/O speed: 8.80 MB/s
File system: 122.02 seconds (timed out)
Write speed: 52 MB/s
Read speed: 35 MB/s
The same spec drive in a healthy 2011 iMac posts this in the same test:
Performance:
System Load: 1.62 (1 min ago) 1.67 (5 min ago) 1.87 (15 min ago)
Nominal I/O speed: 0.05 MB/s
File system: 38.28 seconds
Write speed: 112 MB/s
Read speed: 91 MB/s
...and that one still feels slow.
Back up NOW!
The low-cost, no-need-to-open-the-computer option that gives a nice performance boost is an external USB3 solid-state drive set as the boot volume. If the drive enclosure is USB3 and the SSD inside is rated SATA 6GB/sec (both very important to seeing improvement) then the read/write scores will be around 400MB/sec and the computer will feel much faster to boot and launch apps.
👉🏻 For a desktop computer like the iMac, AVOID external SSDs that are bus-powered—they lack a separate power supply and will not be as reliable as a self-powered drive with independent power supply. This will be your boot drive, and you want maximum reliability and no low-power issues.
You CLONE†—not copy— the current internal drive to the external SSD, then use Disk Utility (comes with macOS) to set the external SSD as the startup volume with System Preferences > Startup Disk.
† — see https://bombich.com