While RISC-V is quite optimised for gate count for small cores; In large wide OoO cores the variable length encoding really bulks out the decoders.
You basically have the same requirement as x86, where you have to attempt to decode a 32-bit instruction every 16-bits (because there is no alignment guarantee for 32-bit instructions), and then cancel out the invalid ones. It's not quite a bad as x86, you only need to look at two bits, but it still forms a long dependency chain, and probably requires at least one extra decode stage with complex routing to pick out all the valid instructions.