Performance Issue

TriveniN Going to be super difficult to troubleshoot performance-related stuff without access to the PBIX. That said, you might try some or all of the following changes:

UnitStatus =
VAR _Table = 
  FILTER(
    SELECTCOLUMNS(
      'vw_Acquired_Property_BRC', 
      "LastModifiedDate",[LastModifiedDate],
      "Table_name",[Table_name],
      "Owner_c",[Owner_c],
      "Status", [Status]
    ),
    [Table_name] = "Competitor"
  )
Var _LST = MAXX( _Table, [LastModifiedDate] )

VAR _ActiveRecrds = 
  FILTER(
    SELECTCOLUMNS(
      __Table,
      "Owner_c",[Owner_c]
    ),
    [Table_name] = "Competitor" && [LastModifiedDate] >= _LST - 1
  )

VAR _Active = 
  FILTER(
    SELECTCOLUMNS(
      __Table,
      "Status",[Status]
    ),
    [Owner_c] IN _ActiveRecrds 
  )

VAR _ALL = DISTINCT(vw_Acquired_Property_BRC[Status])
                     
Return
SWITCH( TRUE(),
        SELECTEDVALUE( ReportType[Type] ) = "Active" , _Active,
        SELECTEDVALUE( ReportType[Type] ) = "All"    , _ALL)