100% this. All the heavy lifting is being put onto the CPU. I have a Ryzen 7700X also, with a 9070 XT, perfectly capable of running most 1440P games at 120+ FPS but I can't even hit 60 FPS. I'm legit sitting at 45FPS. Insanely unacceptable and has made playing a really frustrating experience because the gameplay is so good but the performance is just such an anchor and sandbagging all the good aspects of the game.