UE 5.6 high CPU utilization

When I run the default third-person level in the UE 5.6 level editor, my CPU utilization jumps to ~70% but my GPU utilization is only 3-5%. Lowering scalability settings from Epic to Low brings CPU utilization down to ~50%. Even with this change, mouse movement is jumpy/ stuttery in the level and blueprint editor, with fps dropping from 120 to ~20 when moving through different menu elements. This becomes pretty close to unusable when trying to run any other programs concurrently.

This is a significant change from UE 4.27, where I was able to run the level editor (and the rest of UE) on the same machine without these performance issues.

I’ve got an older setup but it reasonably exceeds the recommended hardware Epic suggests: Hardware and Software Specifications for Unreal Engine | Unreal Engine 5.6 Documentation | Epic Developer Community

i7-9700k
RTX 2080 Super
32 GB RAM

Is this the new norm? Are there other settings besides scalability settings I should look at adjusting?

Hardware performance when scalability settings = Epic (dips are when UE was not active window)

Hardware performance when scalability settings = Low (dips are when UE was not active window)