I did some testing and a blank USB stick mounts instantly. An empty 2.5" USB spinning hard drive mounts instantly. I tried different formatting and encryption and it didn't make any real difference.
It appears to be down to the contents of a drive. A blank drive is instant, but my time machine drive takes 30+ seconds. An external 2.5" drive with thousands of files can take a minute or more to appear.
I presume macOS is running some sort of check on the contents? Is it possible to remove this check or shorten it?