Location changing should take 1-3 seconds from when you click change location. If you are having issues changing your location, reboot your iPhone and computer and try changing your location with your iPhone unlocked (passcode entered).
Change Location
Static Mode
Once your device is setup to change location and you see the green status indicator next to your device, the change location button will also become available.
To quickly find a specific location on the map, search for it in the search bar at the top, click the location, and your map pin will move there. You can also drag and drop the map pin to change your location to a more specific location.
Use the zoom and recenter controls on the right side of the map for more fine-tuned location adjustments.
If you want to reset your location, click the reset location button. Sometimes, your iPhone may take a few minutes to recalibrate. You can also reboot your iPhone to force it to recalibrate.