alt Hacker NewsDxO PhotoLab supports RAFs these days, and does not have a subscription model. They have black friday sales, if the RRP seems a bit much.
I've just installed DaVinci and pointed it at my photos from this year and so far it's been frozen for 8 minutes, not initially confidence inspiring.
What platform, what storage and how large is the directory? Might be a difference in experience for people on Windows trying to open N-TB over a NFS share compared to Linux N-GB locally.