Putting a hold on a popular new release can mean a six-month wait, but most library systems let you place holds on multiple formats of the same book at once, ebook, audiobook, and physical copy, each with its own separate queue. Whichever becomes available first is the one you get.
I also learned that holds placed on a slower weekday morning seem to clear faster than weekend holds, likely because fewer people are actively browsing and placing requests at the same moment. Not guaranteed, but it’s matched my experience across a dozen or so holds.
Canceling and re-placing a hold resets your position in line, so once you’re in the queue, just leave it alone and let it work.