Site becomes unresponsive when "Host Versioned File Clean Up" job is running

This started a few days ago at around 2AM. Our production site (running v10.2.2.4296) went totally unresponsive for a number of hours until we executed a database failover.  This happened subsequent nights at around the same time.  After some digging, we discovered that the Telligent job ""Host Versioned File Clean Up" was the source of the issue. 

Can anyone explain what this job actually does?  Is it enumerating items in the filestorage folder and deleting old versions of things?  Is the unresponsiveness be related to this bug because the Job service is trying to enum 1M files?

TE-14151 -