A tutorial that covers this process can be found here.
By default, tiled and mipmapped TX textures are automatically generated for each image shader. The resulting TX will be placed next to the original texture files. When the texture filename contains tags such as UDIMs, a TX texture will be generated for each sub-tile.
It can take a bit of time to convert a texture to TX, especially for large textures stored on a network share, but usually, this is done only for the first render. For subsequent renders, if an existing matching TX texture is detected, it won't be regenerated unless the source texture contents or colorspace has changed. Also note that if the input texture filename already has a
.tx extension, it will be left as-is.
A toggle to disable auto-generation of .tx textures can be found in the Textures tab of the Arnold Render Settings to disable TX auto-generation globally. This behavior can also be disabled per texture with the Auto-generate TX Textures toggle on the Ai Image shader and Maya file nodes.
Also, the TX texture will be linearized according to the color space rules in the Color Management settings in Maya.
There is no texture filtering when not using mipmapped textures. This can cause some differences, more notably for emissive maps and displacement maps.