Everything uses NTFS journaling as far as I know.
I actually solved that by using the native macOS fsevents API which can watch the whole filesystem for changes, and I can instantly update the SQLite db I use for the index through that.
The problem is actually enumerating and searching the whole database, that's the slow part. Right now I have over 5 million rows in it and passing the SELECT results to fzf is the slowest part, taking a few seconds at least on an M1 Max.
I'm not sure how Everything presented the results so fast, with metadata and everything.