The fix of TFS work item 7980238 (Perf regression in installing/updating the PowerShell modules due to Test-ModuleManifest performance degradation (was: Test-ModuleManifest loads all available modules if a module has the nested/required module dependencies.)) should be ported to PowerShell Core completely.
PR #1375 was supposed to port the fix, but it missed one change of the fix and didn't bring along the tests. The missing change and the tests need to be ported.