Slow WooCommerce reporting SQL queries

Hello,

we have a very busy WP/Woo website (currently over 50K orders), and I’ve noticed that our website (particularly the Dashboard) is becoming painfully slow, despite having high spec hosting.

Inspecting the logs, I can see the following query is very slow (14 seconds):

# Query_time: 14.195963 Lock_time: 0.000232 Rows_sent: 31 Rows_examined: 1542794
SET timestamp=1598904625;
SELECT SUM( meta__order_total.meta_value) as total_sales,SUM( meta__order_shipping.meta_value) as total_shipping,SUM( meta__order_tax.meta_value) as total_tax,SUM( meta__order_shipping_tax.meta_value) as total_shipping_tax, posts.post_date as post_date FROM wp_posts AS posts INNER JOIN wp_postmeta AS meta__order_total ON ( posts.ID = meta__order_total.post_id AND meta__order_total.meta_key = ‘_order_total’ ) INNER JOIN wp_postmeta AS meta__order_shipping ON ( posts.ID = meta__order_shipping.post_id AND meta__order_shipping.meta_key = ‘_order_shipping’ ) INNER JOIN wp_postmeta AS meta__order_tax ON ( posts.ID = meta__order_tax.post_id AND meta__order_tax.meta_key = ‘_order_tax’ ) INNER JOIN wp_postmeta AS meta__order_shipping_tax ON ( posts.ID = meta__order_shipping_tax.post_id AND meta__order_shipping_tax.meta_key = ‘_order_shipping_tax’ )
WHERE posts.post_type IN ( ‘shop_order’ )

AND posts.post_status IN ( ‘wc-completed’,’wc-processing’,’wc-on-hold’,’wc-refunded’)

AND posts.post_date >= ‘2020-08-01 00:00:00’
AND posts.post_date < ‘2020-09-01 00:00:00’
GROUP BY YEAR(posts.post_date), MONTH(posts.post_date), DAY(posts.post_date) ORDER BY post_date ASC;

This looks to be related to Woocommerce reporting. Is there any advice you could give me on resolving this?

Thanks
Mark