This has been completed.
When you're on the tasks list page you'll notice that the delete button next to each task has now been turned into a button. This button has the delete option along with a new "Duplicate" option.
When you click "Duplicate" the task modal will open up with all the settings of the task you are duplicating. You can edit the details as you like and then save the task as a new task.
This makes it easy to duplicate tasks along with all their settings rather than entering similar settings on a new task.