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Sounds about right going by what your Task Manager states (in mb/s).
Steam, Settings, Downloads, check the box, Display download rates in bits per second
It is NOT like online gaming. Ping isn't relevant. Sogoogle timezones and pick any country around 2 to 4 am in the morning. See how that goes.
If it doesn't change then the issue is elsewhere.
And as for your speed, you' still seem to not understnad the Steam downloads page report in MEGABYTES per second, not megabits that you are mentinoing, so your speed must be multiplied by 8.