Strangely bad perfomance on new Community Shaders

I recently started rebuilding my modlist from the ground-up, and decided to go with CS over ENB as the new update looked intriguing. I’d run the pre-1.0.0 versions of CS with consistently good performance. However, with the new version of CS installed I am getting 30-40 FPS in interiors and 20-30 in exteriors. Performance is generally quite choppy too, frames are not consistent. For reference, this is with no other graphical mods of any kind installed, just baseline dependencies, unofficial patch and CS.

My specs are okay, 2060S 8GB, R5 3600 and 32GB RAM. Not anything special but I would have assumed good enough to run what is essentially vanilla Skyrim + CS. Both the CS menu and the Display Tweaks widget put my VRAM usage at about 35-40%, so it’s not like my graphics card is being overstressed. Maybe a CPU issue? But I have run relatively demanding Wabbajack modlists with thousands of mods and ENB to much better performance than this.

I have tried tweaking with CS settings but can’t find anything that improves performance besides disabling entirely. Does anyone have any pointers here/am I missing something obvious (entirely possible) or is this expected from the current update?