Hi Daniel,
I’m going to need some additional info:
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Post your Dxdiag (system specs)
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How many actors do you have in your environment?
I tested this in the default 1st Person Template but couldn’t get your results unless I did an extreme test. With about 200-300 active physics objects, I do get about a 15-20 FPS drop on FOV change. However, this is expected behavior considering the amount of physics objects and then rapidly changing the FOV on top of that.