I’ve fixed my performance issues with Virtual Shadow Maps. I’m using Lumen. Switching from UE 5.3.2 to 5.4 caused all my movable lights (and dynamic shadows: enabled) to dramatically reduce the performance.
Critical spot in my map with movable lights and enabled dynamic shadows:
Shadow Map Method: Shadow Maps → UE 5.4 30FPS / UE 5.3 70FPS
Shadow Map Method: Virtual Shadow Maps → UE 5.4 70FPS / UE 5.3 70FPS