I have opened service ticket 04771512.
The problem at the beginning was that Veeam Backup for Microsoft Office 365 told us that the bottleneck was Target, but our disk array, CPU, RAM and network weren't performed.
Of course we want to use Veeam Backup for Microsoft Office 365 in maximum performance, so when VBO tell us that the problem is CPU, we will increase count of CPU, if the problem will be RAM, we increase RAM and the same for disk array.
But unfortunately VBO says Target and all components weren't performed.
During resolving the ticket we tested a lot of things, defragmentation of Windows disk, defragmentation of repository, changing disk array, creating new server, RAM disk, etc... and the performance was still same.
Few days ago, during another test I found that the core problem is in resolving backup job objects, because, resolving backup job objects use only one proxy thread and it seems that it is not enough.
Whole backup (incremental backup) of our Teams (approximately 800 objects) is on 30-35 minutes.
If I set only one thread on proxy and started the backup job, this thread was of course assigned to resolving job objects. The process of resolving (without data backup) was on 34 minutes, which is the same time as backup job with 64 threads. After the last object was resolved, Backup job assigned the thread to backup process. In this time I changed the number of proxy threads from 1 to 64 and I waited what will happen. The backup job started backup resolved objects as a shot (by the very similar speed as backup of SharePoint or Exchange, where we don't have performance problem) and the backup job finished after 7 minutes with 800 objects... at the same time, now the disk array was performed between 60-90%, which is perfect. The backup job increase the speed by 400%!!!
Here it is possible to see that the bottleneck is on resolving backup job objects.
Unfortunately I have a feeling that this information was thrashed by solver and he told me that I need to do another defragmentation and add another Veeam proxy, but why?

Please is it possible to assign multiple threads to resolve backup job objects that will increase the performance of the entire backup by hundreds of percent?
Thank you