Performance issues on windows 11?

I recently updated my system to windows 11 and decided to give NMS a spin since my drivers were now supported again (was on windows 8.1 prior). Upon launching however I was met with frequent frame stutters every 1-2 seconds though the game appeared to run smoothly in between that. I then decided to try to leave the space station and try and land on a planet to see if that was any better, and ran into the issue shown in the video. My CPU and RAM usage looked normal — anybody else run into the same issue and have any fixes?

I am running it on a 2TB m.2 Samsung SSD and have 16gb ram, an intel i5 6500 and a Radeon RX 480. My drivers appear to all be up to date and I’ve tried various graphics settings. For the record I have used this exact system to run the game for many years prior so I know it’s more than capable, and even used a second drive with windows 7 to run the game with 2020 adrenaline drivers after my Windows 8.1 drivers went out of support with no issues.