UE5.2 Framerate - Why UE5.2 top framerate is 94FPS on an empty scene and RTX 3070? impossible to make a game.

I only have a 1080Ti, but I’m noticing it’s a lot slower in UE5. I reduced global illumination to high and got a good boost. I switched to SM5 and DX11 and got a huge boost. I’m now at 110 to 120 fps on a very small project. Was 75fps with SM6 and DX12.

Also, shader complexity went WAY down with DX11 and SM5. UE5.2’s shader instruction count for materials is insane. I was told it shouldn’t affect anything, but clearly it does.