[release/7.0] Avoid redundant looping in property metadata #29807
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This is a port of #29805
Fixes #29642
Description
The logic for reading property metadata is performing more loops than intended resulting in poor model building performance (affects migrations and app startup).
Customer impact
Non-trivial models take up to three times as long to build. There is no workaround.
How found
Customer reported on 7.0
Regression
Yes.
Testing
Manual verification of the performance.
Risk
Low; the fix should not have any behavior impact, and a quirk was added to revert back to older behavior.