New Security Update - questions

It seems info is lacking on this. My Dealer Service Dept was a bit clueless until I fill them in. They wanted $200 to install the new security update on my 2021 Redeye Charger. I complained I just received the car and he said I'll do it for free;

Question:
How long does it take? I'd hate to leave the car there all day.
How does the update work. I understand you need to type a a 4 digit number on your screen to unlock it. Must that be done every time? or just when you set it. Does it really reduce power to 5 HP?

Paul