5.4.2 CompositeEditorPrimitives and PopulateDepth causing major performance issues

I’ve been working in a project for the past couple weeks without issue, however starting a couple days ago I began to have issues where my performance would tank significantly on certain scenes. They are relatively empty, its is just floor with a character and some lights.

The strange thing is nothing has really changed in project settings or even materially/scene wise. Given it was associated with a spiked GPU cost, I ran a ProfileGPU and noticed it was related to CompositeEditorPrimitives > PopulateDepth, ranging anywhere from 20-40ms in cost.

I can’t seem to find anything related to this on the internet. One thing I noticed is it tends to happen reliably when switching to full screen mode, and sometimes if I get too close to the character. Otherwise though it can also happen by just loading the level.

Any idea what it could be?