I've got a Windows 10 (latest updates) laptop with a GTX 1070 and with the latest Nvidia driver update (460.79), the FPS in No Mans Sky has completely dropped to being unplayable.

Previously was playing on Ultra settings (no mods or anything like that)

I updated the drivers mainly for Cyberpunk so would prefer not to rollback.

Has anyone encountered anything similar?

Actually, just realized I'm on an older build of No Mans Sky because GOG isn't updating the offline installers.
Will update via Galaxy and see if it's still an issue.

Did you use the "NextGen" Update already the last time you played on Ultra?
Because with the "NextGen"-Update they improved Graphics alot and now Ultra needs a much better card than before.

Yep, used the NextGen update previously, everything on ultra and worked fine.
Updated the drivers and game became unplayable.

There's a couple other people on Reddit that have the same issue, but I suspect it's a very small amount of people and possibly specific GPU's that this is an issue with.

Latest build of the game has the same issue too.

Do you have issues in Cyberpunk with an older update? Cause maybe you can make a rollback (i know you down want to) to a version that works with both

Cyberpunk needed the new drivers, but what I didn't test was an older version of Windows with the latest GPU drivers. Kinda don't want to roll back Windows now, takes too long to do that!

I'll have a play around with the settings again, maybe I can just reduce the settings (I did try reducing the scale to 10% and it still stuttered, so that resolution would have been like 320x240 type thing which was funny seeing).

Thanks heaps for your help, will see if I can figure anything out and if I find something specific will post up.

Did you try it with 461.09 meanwhile?