It does make a significant difference for build times, obviously it depends on the exact thing you're building.
Large C++ files, for instance, tend to take a long compile time and in this case, file access time will only be a moderate factor.
For those using KiCad, this is a very easy to witness improvement, when opening the symbol and footprint editors for the first time in a session (so nothing cached yet.) Libraries have a ton of small files.
Opening the symbol editor (first time) when libraries are on a HDD (even the fastest one) will take up to 20s-30s. Yes, drives you nuts. On a SATA SSD, it will typically be around 5s.
On a NVMe SSD (which I have switched to for KiCad libraries now), it's almost instant. Makes a freaking great difference when you use KiCad a lot.