Reverb G2 VR performance drop after Patch 5.505 release

[Vanny33]

Have been playing online IL-2 for two years on my Reverb G2, (4070 Ti, 13th gen i5-13600K) using SteamVR and have had great performance (high graphics settings with 90+ fps, super smooth experience in VR). When I updated to the recent patch, I am now experiencing 30-70 fps with terrible stutters and my GPU is at 100% usage with 100% VRAM usage, when it never did before. Checked Nvidia/Reverb/Steam/(any possible software application) drivers, tried reverting. No bueno. Figured I'd drop this here on the long shot someone can help. Right now it is unplayable in VR which makes me sad.