As Mnejing has already kindly shared, Mog Wardrobe 2 is on the way, and slated to be implemented in the April version update!
However, due to this addition there will also be slightly longer loading times, which I would like to take a moment to explain.
Essentially, whenever you have items in storage, there will always be loading time that occurs. The more items you have in storage causes this time to become longer, and unfortunately this is unavoidable at the moment. However, leaving this alone would cause unwanted circumstances in the event that we add a third or fourth Mog Wardrobe, such as having to wait a long amount of time for loading when entering battlefields or other areas where time is of the essence.
As such, the development team isn’t going to give up on this, and they are currently investigating to see what can be done to shorten the loading times. They’d like to prioritize a speedier loading time when changing zones, so it will cut down on the time where you are not able to equip gear or use items. They’ll be trying various approaches and looking at this issue from various angles to make this smoother.
With that said though, there is still a possibility that this cannot be improved since it is an adjustment related to the core system of FFXI, and we appreciate your understanding on this.