Changing wp-config.php file with the following information does improve the speed.
in wp-config.php change from
define( ‘DB_HOST’, ‘localhost’ );
to
define( ‘DB_HOST’, ‘127.0.0.1’ );
Also some very cool and tricky part.
I installed the second WP but this time database was set to UTF8 instead of utf8mb4
I saw loads of improvement.
I am using Ampps since it has Softaculous and a cool control panel for fast local development.