Is SOLIDWORKS updating bounding boxes, even thought they were not created?

I see this message all the time when opening files, even ones in older format:

Are bounding boxes created or updated in the background for all components of an opening assembly? Has this been done in the past versions, but has never been shown to the user? If not, and this is new, what is the impact on performance?

SolidworksSolidworks 2018 Beta