Time of Day | Process Name | PID | Operation | Path | Result | Detail |
23:32:45.6825275 | MultiCommander.exe | 788 | RegCloseKey | HKCU\Software\Microsoft\Windows\CurrentVersion\Explorer\MountPoints2\CPC\Volume\{[GUID removed]} | SUCCESS | |
23:32:51.2647950 | MultiCommander.exe | 788 | RegQueryKey | HKCU | SUCCESS | Query: HandleTags, HandleTags: 0x0 |
MC do not mess around with the registry it self.. But it asks windows about drive and volume. and Windows might go out and get that information.
You can try the latest beta and turn on full logging and check the app log at what stage it takes long time.