There is alot you can do to speed things up - but these optimizations would have to be made each time you receive a new file. Here is a full support article about optimizing large assemblies.
The first thing is using "level of detail" to manage what is loaded and unloaded. By suppressing stuff you don't need, you can make a massive assembly load and run very fast.
Usually, the first thing I do is right click, change selection filter to parts, then Shift + right click and click "component size", then you can select components by size and suppress them. This is a great way to quickly remove small stuff that is usually less important like bolts, nuts and washers. For very large assemblies, it can take a minute to select, I suggest learning the workflow on something small.
After that you can also use shrinkwrap to have the software automatically remove holes, pockets, fillets, chamfers, internal voids, hidden parts, etc. This can also be time consuming for complex geometry, but well worth the gain in performance.
If all you need is to view the step file and your model together, Give Navisworks a try (if it is part of your subscription). It took me a bit to learn how to use it (and like it), but now that I know, I actually link my Inventor assemblies into a master Navisworks assembly. When done right, it loads and navigates very fast.
Aaron Jarrett, PEInventor 2019 | i7-6700K 64GB NVidia M4000
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