@JoelP May I know which version of Azure Storage Explorer are you using? Are you facing same issue in Azure Portal?
Try to delete data from "%appData/StorageExplorer" folder from your machine. After deleting, when you launch storage explorer you will be ask to reenter your credentials.
Additional information: There is no throttling on the Azure side.
Here's a guide for troubleshooting high E2E latency: https://learn.microsoft.com/en-us/azure/storage/common/storage-monitoring-diagnosing-troubleshooting#metrics-show-high-AverageE2ELatency-and-low-AverageServerLatency
Can you share the screenshot?
Install the latest version on Azure Storage Explorer: https://github.com/Microsoft/AzureStorageExplorer/releases
looking forward for your reply!