I was not happy with the speed of my search again. I wonder why it can become like this over time?
I went ahead and deleted my cache/database files and had Obsidian re-index my vault.
Steps:
1) Quit Obsidian.
2) Navigate to the following locations:
Windows:
C:\Users\<username>\AppData\Roaming\obsidian
Linux:
/home/<username>/.config/obsidian
Delete these folders:
Cache
Code Cache
DawnCache
GPUCache
IndexedDB
Storage
3) Restart Obsidian
Obsidian global vault search speed is back to normal.