I also have a big performance issue.
(As an Oculus Quest 2 VR user, i am using openComposite to play and now it does not work anymore -> but this is an issue the openComposite developer has to fix)
My FPS went from stable 90fps to 45-70fps.
Lowering the graphic settings gives nearly no performance-boost, maybe 5-10fps. I apologize for writing this, but you really screwed up with the update in terms of performance.