these numbers usually doesn’t say much as a lot of the rendering has moved over to compute to be done async. So depending on what is overlapping with what you can get different numbers. Have you tried using Unreal Insights or a gpu profiler like renderdoc or nvidia nsight? That can usually tell more.
As for the PSO compiling, you can see this in the log. At least for me it adds a line when encountering a PSO to be compiled.