How to efficiently query high-volume custom post types without hitting wp_postmeta join bottlenecks?

I am managing a WordPress site with 100k+ entries in a custom post type. Standard WP_Query with multiple meta_query arguments is causing significant performance bottlenecks due to complex wp_postmeta joins. What are the best practices for optimization?

Should I migrate to custom database tables for these specific fields, or is implementing a solution like Elasticsearch or Algolia a more scalable approach for high-frequency backend filtering? I’ve already optimized indexes, but the join overhead remains high.