A difficult one to diagnose from here but here are some suggestions.
Probably the 2 mins is App Modeller working through every element in order to determine that it can't find any match. And maybe the reason is because at the Read moment the element is not 'ready', so App Modeller continues its (hopeless) search through the rest of the screen. And maybe the reason the 2nd attempt works is because by then the element is ready. I may be wrong on this but as an experiment, try (manually) pausing for a few seconds before the read to see if that changes anything.
Another thing to check is that the wait stage is waiting for the same element that you are reading. If they are different then perhaps the assumption that 'element A exists therefore B must also exist' is not true. Again, this is a guess that may be incorrect.