Ruby on Rails application slow to load when running in Docker container - ruby-on-rails

Question

I have a Ruby on Rails application that I'm running locally using docker-compose. The container comes up relatively fast. But the Rails applications takes a few minutes to start. It start up quickly but takes a while to get past the preloading state.
Dockefile
FROM ruby:3.1.2-slim-buster
# Install dependencies
RUN apt-get update && apt-get install -y \
build-essential \
libpq-dev \
nodejs \
net-tools \
libffi-dev \
git \
curl \
yarn
# Bundle install
WORKDIR /app
COPY Gemfile Gemfile.lock ./
# RUN gem install ffi -v 1.15.5 -- --disable-system-libffi
# RUN gem install bundler:2.3.14
RUN bundle config build.nokogiri --use-system-libraries
RUN bundle check || bundle install
# Yarn install
# COPY package.json yarn.lock ./
# RUN yarn install
# Copy the main application.
COPY . ./
ENTRYPOINT ["./entrypoints/docker-entrypoint.sh"]
docker-compose.yml
version: '3.8'
services:
web:
build:
context: .
dockerfile: Dockerfile
restart: always
ports:
- "3000:3000"
volumes:
- .:/app
- gem_cache:/usr/local/bundle/gems
- node_modules:/app/node_modules
- web_logs:/app/log
env_file: .env
environment:
- RAILS_ENV=development
- DUMP_SCHEMA_AFTER_MIGRATION=false
depends_on:
- db
- redis
db:
image: postgres:14-bullseye
restart: always
ports:
- 5432:5432
volumes:
- postgres_data:/var/lib/postgresql/data
environment:
POSTGRES_USER: postgres
POSTGRES_PASSWORD: postgres
POSTGRES_DB: auth_svc_development
POSTGRES_HOST_AUTH_METHOD: trust
redis:
image: redis:6.2
volumes:
postgres_data:
gem_cache:
node_modules:
web_logs:
auth-svc-web-1 | [7] Puma starting in cluster mode...
auth-svc-web-1 | [7] * Puma version: 6.0.0 (ruby 3.1.2-p20) ("Sunflower")
auth-svc-web-1 | [7] * Min threads: 5
auth-svc-web-1 | [7] * Max threads: 5
auth-svc-web-1 | [7] * Environment: development
auth-svc-web-1 | [7] * Master PID: 7
auth-svc-web-1 | [7] * Workers: 4
auth-svc-web-1 | [7] * Restarts: (✔) hot (✖) phased
auth-svc-web-1 | [7] * Preloading application