Earlier quoted context omitted.
The M5 MBP has 24GB of RAM, more context in RAM perhaps?
The process stays at around 2 GB with 16 slots and a 4K context on both the M5 and M2. But yeah, Apple might be doing some magic under the hood
Try to leave only a gigabyte or two free, speed likely would drop dramatically.
Edit: or do some calculation / logging of experts read speed, to see if it's faster than SSD spec.