It takes 150 seconds for the hot water to get to the 2nd bathroom, and only 120 to get to the master bath.
However, having the water heater in the garage is quite valuable. I've had 2 leaks in the last 15 years that have only cleaned the garage, not ruining any interior flooring.
Put down some water proofing (e.g., Kerdi-Board) in your utility room (like you'd water proof your shower or entire bathroom), or at least put your water heater in a shower pan.
Ditto for other appliances that have water, like dishwasher, clothes washer, and plumbed fridges:
However, having the water heater in the garage is quite valuable. I've had 2 leaks in the last 15 years that have only cleaned the garage, not ruining any interior flooring.