I don't know why, but after issuing the nrfutil dfu command line, it takes ~34 seconds before the DFU starts and the progress bar is shown.
Sample command lines:
nrfutil dfu serial -pkg app_v0.2.1.zip -fc 0 -p COM13
nrfutil dfu usb-serial -pkg app_v0.2.1.zip -p COM30
It doesn't matter whether the interface is USB or UART. The delay is the same. These are signed application images transmitting to a secure bootloader.
Side note on this: Any 2-part DFU fails using nrfutil because the 34 second delay occurs again in between part 1 and part 2, but this fails because the bootloader continuation timeout is only 10 seconds.