Certain performance optimizations in RocksDB are only available with newer format_versions. For example, this is mentioned in Rocksdb BlockBasedTable Format:

Note: format_version=5 (Since RocksDB 6.6) uses a faster and more accurate Bloom filter implementation for full and partitioned filters.

Set the default format_version to 5 in conf/entry_location_rocksdb.conf.default and conf/ledger_metadata_rocksdb.conf.default.
Set the default value for dbStorage_rocksDB_format_version in KeyValueStorageRocksDB.java to 5.

Currently format_version has been set to 2 in conf/entry_location_rocksdb.conf.default. format_version=2 is really old since and it won't use certain optimizations when that is specified. The setting is missing from conf/ledger_metadata_rocksdb.conf.default. This could cause downgrading issues between RocksDB 9+ and RocksDB 7 since RocksDB 9's default format_version is 6.