UMG 3d slate text proformance issues

I set up a little virtual text chat in vr using a UMG, but I’m getting terrible performance anytime text is visible. There is some motion applied to the text. In my main level, a single 3d slate takes 5-8ms with text and 0.05ms without text. I did a test in a new level using a UMG with text that moves up and down. In the test level it takes 0.8-1ms to render the moving text, but as soon as the text is turned off or replaced with a texture the total render time drops to 0.05ms. I did read about issues with missing fonts, but that is not the case here. Is there something that I’m missing, or is the text rendered in UMGs just expensive?