Modern GPUs and ASICs can perform millions of SHA operations per second, even with a poorly configured Argon2, you reduce that massively.
If you were to leak your company database with 1 million customers and hashed passwords, there's some theoretical considerations to be made on resistance to GPU and ASIC cracking, practically you're in a pretty bad place whichever algorithm was used. ^^
P.S. Cryptography would have more weight if half the passwords weren't a variation of password2021 and hunter22.
But you can. It’s literally just N times the hash. Typically the number of iterations is chosen to be somewhat slow on the server that derives it. But a specially designed rig can execute this with extreme parallelism and speed.