We all know this game is poorly optimized and suffers massive frame drops even on High End GPU’s like a 2080 Ti. It has been very frustrating having to choose between playing on stable FPS with crap looking visuals or having good visuals with constant frame drops. So, I’ve tried everything and browse the net as much as I could for a better temporary fix until developers fix the game (which, they might not do, EVER).
I stumbled upon this nice argument that is improving performance massively for me.
-notexturestreaming
You will need to set this in the Epic Games Launcher. You will also need a GPU with enough VRAM, at least 8GB. Back Water was consuming about 7.5GB of VRAM and Derailed was around 7.8GB. Maps and menu will take a bit longer to load. Framerate will go down until textures are loaded, but once they are, performance is much more stable.
Give it a try and see if it helps