I had that using a 4080. I switched to a 4090 and it's quick again. When I ran the 4080, if I turned down settings very low and F10 menu performed well again.
I'm surprised you found that hyperthread made a difference. I found that the new multithreading only used 8 cores. I tested with HT enabled and disabled and found no difference, so I disabled it. With HT disabled, I was able to increase my clock speed a few ticks. Seeing 90fps even in multiplayer now.