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People are usually overly-optimistic when estimating the time required to complete a task.
Similar psychology:
Setting realistic expectations upfront could help users stay motivated, avoiding the deflating moment when a task overruns their planning-fallacy estimate.
Progress indicators and milestones might reduce user frustration, as the planning fallacy leaves people surprised when a process takes longer than expected.
When a process drags past what users planned for, they may rush or accept defaults; realistic time estimates could help maintain the quality of their answers.
You could reduce drop-off in long flows, e.g., sign-ups, since users who underestimate the time needed, due to the planning fallacy, may simply give up.