In my personal experience, running file-server with 10gbit and SSDs on it for years, it was still sluggish. The reason was perhaps some inherent latency to standard network protocol, or perhaps 3dsMax introduces some additional latency when dealing with network locations, hard to know, not in my skill to investigate what is the actual bottleneck.
But local storage on workstation is indeed much more responsive in all aspects of work. For studio work though, this means synchronizing storage across multiple workstations and there are some easy real-time sync tools (like FreeFileSync), it introduces another level of complexity to fuck something up :- ). And of course, certain tools like standard Connecter don't like it (hence why they introduced SQL-based paid-tier).
My textures never even go below 4K (for 1m2) but usually are larger (8K), and I never really tested the impact on fluidness. Worth looking into it, but not sure what could be done about that, I need high-res textures. There was some proxy-tool for textures I think.