We have similar systems and the Onealex mod typically takes 20+ minutes to load on my machine. My rules for visually complex mods like Onealex or Fifi are:
Wait,
Wait some more,
Wait longer than you want,
Wait longer than you should,
Wait longer than you have,
Keep waiting, and at some point it should start.
Check for conflicts, sometimes a error message window opens behind the game which must be closed before the loading can complete. If present, it will generally detail where the error is, often an entry in the ...\Menu_1064_768.ini is the offending file. If the loading bar appears to have frozen, minimize SH3 to see if it generated the error message.
Fifi's latest mod takes more than 25-minutes to load, a bit longer than Onealex v53.
If there are no hidden issues, it then becomes up to you whether the waiting is worth the results, a value judgement that only you can make. Good Luck!
-C
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