The 274 ms is for the sequential version of the algorithm (on my i7-9750 laptop).
On my office Xeon E5-2690 machine when using multiple threads the runtime decreases like this
840 ms for std::sort
372 ms for IPS4o sequentially
201 ms for 2 threads
104 ms for 4 threads
53 ms for 8 threads
33 ms for 16 threads