Very annoying. The last couple of MacOS updates (I just updated to 12.4 on my 2019 Intel MacBook Pro) seem to have broken the App Store progress circle - it just spins and spins and then suddenly it's done. But this is the first time an app has has been declared "done" and then it isn't.
When I opened up Activity Monitor / top in Terminal I saw "installd" is doing something. And as I write this it just completed! Here's a screenshot of the CPU usage after 5 hours within minutes of completion, just to give an idea of how much CPU time to expect.
This has hampered my productivity more than one occasion, since I didn't anticipate the update to eat up most of a day, during which I couldn't compile. Going forward, I will definitely be kicking off any updates to Apple developer tools before bed and letting it crunch away overnight.