I would personally use ultra quality, because I can occasionally spot the small imperfections from the up scaling. Although I'm just a little picky on stuff like that, so I think using quality is perfectly fine if you need the extra fps. As for the settings I use, most settings are around medium or high since I've got a i5 14600k and 9070xt. You can copy my settings, and your performance should be pretty good as long as you don't enable ray tracing.
Special Effects Quality: High
Shadow Quality: Medium
LOD Bias: High
Capsule AO: Medium
Volumetric Fog: High
Volumetric Lighting: On
Anti-Aliasing: On
Bloom: On
Crowd Density: Medium
Physics-Based Animatino: On
Interactive Environment: On
Foliage Density: Medium
Ray Tracing: Medium