Should I be worried about the HPM taking up so much time?
I have seen that.
Anything in logs to indicate something going on at about the time HPM updates?
Do you have auto updates on HPM?
Your hub had been up for 4 minutes, HPM ran for 4 seconds, and nothing else apparently did, making it 100% of that short amount of total time. I wouldn't say that is "taking up so much time," but because of the short total period and lack of other apps, I can see where the 100% thing can look alarming if not contextualized.
All this to say: my answer to your question would be "no."
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Thanks.