I also have the same issue on two PCs at work. Both have recently had updates installed. One is an HP desktop and the other is an Asus laptop, so on first look it doesn't seem to be a hardware issue.
Both computers installed updates KB4497165 and KB4537572 on the 1st of March. This was about a week prior to the issue starting so it's unlikely this was the direct cause.
My laptop has Office 2013 and the other PC is still running Office 2010, but both of them installed a bunch of updates on the 8th of March, so Sunday before I noticed the issue on my PC. The following updates were installed on my laptop: KB4022226, KB3172522, KB3039756, KB4011281, KB3114946, KB4484097, KB3039798, KB3039720, KB4464548, KB3172545, KB3178640.
The commands SFC /SCANNOW and DISM /ONLINE /CLEANUP-IMAGE /RESTOREHEALTH were literally the first thing I tried and the system is still slow. My laptop has a 4th Gen i5 with 16GB of RAM and a 512GB SATA SSD. While this is happening, the performance tab on Task Manager shows the processor barely breaking a sweat at 25%, the memory about 55% full and the disk activity mostly sitting at 0% with occasional bursts of 5%.
I'm about to try an in-place upgrade of Windows 10. I started the process yesterday and have just arrived at the "Install" button 24 hours later.
Is anyone else suffering from this exact issue? Is there a fix for this?