Nowhere close to 10 seconds. From Stand-by Mode - it's less than 3 seconds IMO. And only slightly slower than the ASDs I have next to it. (All attached via TB4 to M1M Studio)
My experience is the same as this, and I say 3 seconds is on the high side. I'm connected via TB4 to a M2 Pro Mini.
Frankly, I don't notice the wake-up time, and it doesn't seem to be any longer than when I open the lid on my M1 MBA. I visit my mom, and she has an older 2018 Mac Mini connected to the ancient Apple 27-inch Cinema Display via mini DisplayPort, and it doesn't seem any shorter than waking up the Dell 6K on my M2 Pro Mini.
I used to have a Dell 5K UP2715K -- connected via two DisplayPort cables -- and it would definitely take 10 seconds, if not more. I got used to as soon as I entered my office of jiggling the mouse, and then sitting down, getting situated, etc., such that by the time I was ready to work the monitor would finally turn on.