I'm trying to backup my iPhone data to my Mac via Finder

Thunderbolt 4 (USB-C) Pro Cable is bought directly from Apple via Apple Store.

MacBook Air M2, 2022 Memory 8G running macOS Sequoia 15.1

iPhone 15 Pro Max iOS 18.1

I'm trying to backup my iPhone data to my Mac via finder so that I can prepare for the 20th September new iPhone restoration via USB-C and I'm shocked to see the speed is only a mere xxmb/s rather than the advertised up to 10gb/s?

Attaching some photos from activity monitor and systems information to see if anyone can tell me if I've done something stupid with the backup?

[Re-Titled by Moderator]