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With complex documents it will take some time. I had conversions in the past with a duration about 36 hours (...but not for a pdf). As long as the little job symbol in bottom right is animated the conversion is still running.
In Preferences ->Behavior you can tweak the Job priority, but keep in mind your system will be not responsive during long tasks.
A last tweak, depending on your system is in Preferences ->Miscellaneous for the usage of CPU cores (but I do not know if this have really an impact for a conversion of one file).
Calibre maybe isn't the best solution for this kind of project. If you have an actual Acrobat and MS Word, the better way around is to open the PDF via Acrobat and save the file as docx MS-Word file or, alternative open the PDF directly in MS-Word (you need minimum version 2013, better is version 2016) and save it as docx file. This file you can edit to your needs and then convert with calibre with a much better result.
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