40% FPS Drop in Act 6 The Twilight Strand

When looking at the flat patches of smoke I notice my FPS drop from 120 to 70ish.
Tested on all renderers. Happens every time. No graphics settings seem to affect it.
Specs:
i9 7900X 4.7GHz
64GB RAM
Titan X (Pascal) 12GB (roughly a 1080Ti equivalent)
GPU Driver 536.23 WHQL DCH [ r536_08-8 ]
Windows 10 Pro x64 22H2 19045.3324

Further testing shows that small patches of smoke reduce fps less (say 15%). And thick patches up to 40%. Maybe its too much smoke stacked on top of each other idk.

It's not even particle data problem. Even if you disable all particles from spawning entirely problem with performance still exists. The new particle engine code is somewhere broken itself.