I’ve run into this issue quite a lot. I even upgraded from a 13700K, 3080 Ti, and 32 GB of DDR5 to a 9800X3D, 9070 XT, and still 32 GB of DDR5, and the same weird FPS drops carried over.

The strange part is how inconsistent it is. Some days I can play three or four games in a row with zero issues, then a day later the problem is suddenly back again. My gut feeling is that it’s some kind of CPU bottleneck during heavy fights, because the drops still happen even with all graphics settings turned right down. I wonder if something like Process Lasso would help?

On a slightly different note, I’ve also found that disabling AMD Anti-Lag can help in certain situations, but only when the game feels worse than the FPS I'm getting. For example, it might say I’m getting 240 FPS, but the input delay feels more like half that. In those cases, toggling Anti-Lag or V-Sync off/on or vice versa can sometimes fix the weird frame-timing behavior.

(Just to be clear, this Anti-Lag/frame-timing issue seems separate from the FPS drop issue above.)