Framerate much lower in packaged build on Oculus than in editor or on Vive

I have the same problem. Works fine in the editor, but the packaged version gives me ~3 fps when using the Oculus Rift.

Even if reduce the scene complexity to an almost empty scene with default floor (but leaving the spectator camera which use rendertarget2d) I can never get more than 45 fps.

The HTC Vive works perfectly fine in both editor and packaged version.

I am using UE 4.20.