VR Application Frame Drops on 3080Ti

Hi all, I’ve been VR developing for a few months using a GTX 1080 and Rift-S. All was good and my system performed well. Recently I purchased a RTX 3080Ti, but now I am having unexplainable frame drops even with plenty of headroom. The issue is seen in VR template projects, my own VR projects and a number of UE4 VR games released on Steam. It happens using both SteamVR and the Oculus Native modes.

My CPU and GPU latency timings look OK, but if I move my head or move (locomotion) or rotate (smooth or snap) I see a drop in frame rate and a report of a dropped frame. This never happened on the GTX 1080, when running it on sensible settings. If it’s a CPU or GPU spike then it’s not being registered as problematic - the graph stays within 40-70% headroom.

I’ve tried mother board bios updates, different Nvidia drivers (only goes back to June 2021 for this card), different bios settings, like PCIE4 to PCIE3, running at JEDEC, XMP, and manual tunings and I’m not using PBO or any overclocks. Checked all power (card is running on two dedicated PCIE 150w cables), disabled or uninstalled all applications that can monitor the system. I have no RGB setup and don’t use any software for that. It even happens on a freshly installed Windows 10 OS with up to date essential drivers.

AMD Ryzen 7 3700x
32gb 3600mhz ram
Aorus x570 Elite motherboard
RTX 3080Ti
Corsair 850w PSU
Oculus Rift-S

Other VR games that don’t use UE4 VR doesn’t have this problem at my end and non-VR titles run fine.

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Did you find a solution? I’m having a similar problem since getting a 3090, application frame drops and weird cpu frame times that only show up in FPSvr but make games very stuttery