I have a Ryzen 7 1800x, 8gb RTX 2080, and 32 gb of 3200 DDR4.

No matter what settings at 1080p I apply I always get 30-40 FPS with DLSS on. Also my CPU runs at about 40% and my GPU at 50-70%. The only thing that seems to change this is turning DLSS off. Than my GPU spikes to 100% and my frame rate drops to the teens. I tried uninstalling my GPU drivers with DDU, and reinstalled the latest driver 3 times, but no change. I deleted my user.ini, and nothing. I reinstalled the game on an SSD and still the exact same performance. The strangest thing is that I started the game at 60-70 FPS on ULTRA RT. Turning off RT boosted it to 90-110 FPS. Now I get 30-40 with RT Ultra on, or Low with RT off.

UPDATE: So after some sleuthing, this is what I've found.

CPU never goes over 40%. It boosted to 60-70% with the AMD multithread fix found online. However, still no FPS boost. The only way to get my GPU to run over 70% is to turn off DLSS, however I than hit the same FPS, but jagged....that's what got me thinking. So I limited my FPS to 35, Ultra RT settings, and my GPU ran at 90-100% at 35FPS. So I than I lowered the settings to Low, and I got 35 FPS, but my GPU was running at 35%. So I upped the cap to 60 FPS....it stayed at 35-40 FPS. Also whenever I hit 41 FPS my GPU would toggle down, and slowly speeding back up once FPS hit 35 FPS. After trying dozens of settings I saw the exact same behavior. My GPU regardless of FPS lock on or off, refuses to allow my game to run over 40 FPS. Currently downloading the new update so we'll see if that fixes things.

If you're using Geforce Experience get rid of it, If you're using any Razer stuff get rid of it whilst you're at it.

These things are technological cancer for metadata collection which they sell details of you.

I'm going to say wrong here that CPU is on par with a 7700k, I'm on a old 6700k with a 1080ti soon to be a 6900 XT.
It's definitely something else interfering

Bet it's the Shadows setting

For AMD also OP install this
https://github.com/yamashi/CyberEngineTweaks

Skips intro vids apparently tweaks game for AMD Multithreading

The reason is because some of the settings are not working property(for example LOD), also there are other heavy performance settings(that you can't access on game but using cyberEngine Tweaks) that can affect performance like TAA(very aggressive AA on all game objects and reflections) and global illumination range.

Also I recommend to use on Nvidia settings High Perfomance mode, threaded optimization-on, max pre-render frames-1, and turn vsync off(don't forget to lock your frames).

You won't see any change at all unless you turn Cascade shadows down and turn volumetrics down.

That's all you should really need to tone down to get a performance improvement.

We know that LOD is not working on Consoles LOL (No Sympathy for that), The only thing that would've been really satifying is if the PC release was complete and the AI not retarded and all consoles received similar to PS4, console sales proved to companys they could release any old crap and the mushrooms will buy it.