It took about 10min to compile shader after I hit “create project” (incl. raytracing) to start UE for the 1st time.
(I’ve just installed UE 5.0.1 on my brand new PC (i5-11400F, 16GB RAM, RTX3060 Ti, Win11) )
For me, as newbie it’s quite ackward UE’s behaviour, when you don’t know if it takes 10 min or a few hours acc. your info.