Dynamic Lighting Performance Tanked After Moving Project to 4.26

Development Rendering
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Hi, I have been working on a project in UE4 4.24 and decided to clone the project to 4.26 to try out the new engine tools added in 4.25 and 4.26. I have a small indoor map that uses many movable lights. They are spotlight components in a blueprint and they are set to movable. They also use an IES Texture. There are few overlapping movable lights.

In 4.24, I would get a stable 90fps playing in editor, anywhere on the map and in the light complexity view mode, most of the map was blue with some green where the lights overlapped.

In 4.26, I am getting a stable 60fps playing in editor, but I checked the light complexity, there were many red areas where lights overlapped.

In 4.26, I found that the IES Texture I was using was very costly (it was not costly in 4.24) so I went through all of my IES textures and found one that is less costly and suits my needs. The new IES texture is still more expensive than the other IES texture on 4.24.

I have been looking through the AnswerHub and youtube to see if there has been significant changes to the dynamic lighting (best practices) workflow and I haven’t found any answers that I was hoping to find.

Have any of you encountered this issue and have you found a way to bring the fps back up?

Thanks

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This post doesn’t seem to be getting much attention, so I will answer it myself to the best of my abilities in case someone else who encounters this problem stumbles upon this post.

I took 3 screenshots of a lit scene. The first picture is the lit scene with no added spotlight. In the second, I have added a spotlight to the scene and left the settings as default. The third is that same spotlight but set to use an IES texture that performs better than the default spotlight.