Are the IloConversion instances in a model that is currently extracted to an instance of IloAlgorithm? If they are then that IloAlgorithm instance gets notified about deletion of each IloConversion instance and this notification may be time consuming.
You can try to temporarily un-extract the model:
IloModel model = cplex.getModel();
cplex.clearModel();
// Delete your conversion here
...
cplex.extract(model);
You could also store all your conversion in an IloExtractableArray and then use that classes removeFromAll() or endElements() functions. Those should usually be faster than your loop since they remove all conversions in one shot.
#CPLEXOptimizers#DecisionOptimization