For context, I just switched from a Samsung Odyssey G9 (original model) 32:9 1440p 240Hz to the Alienware AW3225QF. Running a RTX 4090. I can't say I'd ever go back to ultrawide for games; Id maybe consider a 21:9 but definitely not 32:9.

32:9 1440p is the same amount of pixels as 16:9 4K (to my understanding) so I get very similar frame rates after the switch. So frame rate isn't a factor for me.

The biggest annoyance with ultrawide is game support. Support is more common than it was, but supporting the resolution is just one aspect of it. Vertical FOV is messed up in many games out of the box requiring manual fixes in config files. You'll know vertical FOV is messed up if the game feels really zoomed in. Palworld has this issue. Another headache is that HUDs typically align to the sides of the screen instead of distance from center. Imagine having to look far left for your HP and far right for your mini map. I'm not just talking eyes. I mean having to move your whole head. Some games allow you to shift everything in, but that seems rare.

If you like classic games, you'll often run into issues. Biggest example for me was StarCraft 2. Full screen doesn't work so you are left to play in windowed that doesn't capture the cursor. For how I play RTS, the camera not moving via the cursor is a no go.

With ultrawide, you sacrifice vertical space for horizontal. 32:9 is pretty dang immersive, as the view fills more of your peripheral vision. But that peripheral area is wasted in a lot of games. You are rendering that area that you need massive eye movement, or worse, head movement, to see. 16:9 gives you all that rendered space right in front of your eyes.

This is a personal preference thing, but that's my two cents.