UE5.1.1/5.2/5.3 Serious Mobile Performance bug! Must be noted right now

Development Platform & Builds Mobile
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Update:

Tried the game on UE5.3 Preview 1
It give the exact same behavior

I tried Disabling Vulkan (mobile) and Tried the game on open gl es 3.2 and same behavior

I tried HDR off same thing. Not working.