It can get super boring.
Secrets you aren't aware of, not secrets no one is aware of.
My job title isn't PE, but it's structurally the same thing. I spend a couple of hours a week dealing with HR and other bureaucratic issues, either bubbling up or coming down. I spend most of my hours a week in meetings that none of my employees would want to have to sit through. I deal with dozens of emails and IMs a day that I wouldn't want to distract my folks with. More time is spent dealing with vendor issues. And we're a regulated industry, so I get to make sure I'm supporting keeping our GRC folks happy. And of course budgets. I spent about half today convincing a line of business exec not to initiate a project that 1) would require far more resources than he thought it would, 2) carried more risk than I was comfortable with, and 3) would make life miserable for the people who report to me. Something like this happens to some extent at least once a week, usually more than once. I have had bad weeks where I have spent 90+ hours dealing with some disaster. And then I try to find time to do the training and other skills update work so I don't sound like an idiot when I talk about our teams work.
Basically, my job is to shield them from all the bullshit they shouldn't have to and don't want to deal with. I don't typically bore my folks with the details of how I spend each hour, even (especially?) my direct reports much less their directs. I trust they're working, they should trust I am.
> but I rather work around 30h/week or so
Oh...you're just projecting your work ethic on other people. Classy.