Epic Games Launcher very slow download

Development Getting Started & Setup
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For posterity, the now deleted support page has been archived here.

In case that ever disappears, the solution it gave was:

  1. Navigate to C:\Users\<username>\AppData\Local\EpicGamesLauncher\Saved\Config\Windows
  2. Open Engine.ini in an editor
  3. Add the following lines to the end of the Engine.ini:
[Portal.BuildPatch]
ChunkDownloads=3

(Presumably ChunkDownloads is bounded by the number of CPU cores you have, so adjust as needed)
4. Restart the launcher

Note that Engine.ini will appear as Engine in file explorer if you haven’t enabled file extensions.

Lastly, the relevant source code which handles the above options is here.