UE 5.3 Empty Project Low FPS / High Frame.... Unknown Reason?

I cannot figure out why I’m getting such low FPS in an empty level. In all of UE5. I constantly get about 18fps (as seen in the screenshot).

I’m running a:
Core i7-10870H
RTX™ 3080 Laptop GPU
32GB RAM

My CPU / GPU usage are both at about 20% (Memory at 40%) while inside of UE5 (tabbed into Unreal, not the task manager)

I’m in an empty project. Empty level. Scalability Low.

Running stat unit I get ~40ms Frame w/ 11ms Game (under 8ms everything else). Equals out to about 16-24fps.

My CPU/GPU/Memory usage are all under 25% whenever I’m in UE5. They never go above that. 3080 reports 0% CUDA usage

Any idea why this would happen? It seems I’m supposed to be getting 200+ with these specs