Different systems are gonna have their performance bottlenecked by different parts, obviously, but on my machine at least (ryzen 5700x3d, radeon rx580) I found the framerate was dramatically improved by turning the draw distance up as far as it would go. Yes, up. Maxing out the draw distance literally took my framerate from thirtyish to a solid sixty. It's like whatever culling method the engine uses to sort the world's objects into "draw" and "do not draw" is so computationally expensive that it's actually way more efficient to tell it "screw it just draw everything IDGAF" and let the z-buffer sort em out.