Running an i7 9700k, 32GB RAM, 2TB 970 Evo and 2080Ti FE, running 3840 x 1600 @ 120Hz.
Windows 10 v 2004, all latest updates, latest nVidia drivers and all previous drivers back to August tested.
V Sync set to On in nVidia CP, G Sync enabled, 100 FoV, 120 fps limit, V Sync off in game.
I used to be able to maintain a consistent 120 fps with occasional dips down into the 80s when on Titan or near the EDZ church, and also when in public events with lots of particle effects present (supers etc)
Since Beyond Light, I've been seeing drops down to 80 fps when simply standing still anywhere on Europa, EDZ, Tangled Shore, Nessus and Cosmodrome. The Moon isn't too bad for the most part outside of the Altar of Sorrows and Pit of Heresy, where frame rate is again inconsistent.
Cosmodrome seems to dip lower still in certain areas (the Navota strike is particularly bad with dips to below 60 in the first Fallen area and Hive battle thereafter) and EDZs Church area is also absolutely awful.
Nessus also dips low and dips further in public events.
During damage phase of Taniks The Abomination, the framerate drops to sub 60 every single time.
Another particularly egregious example is when fighting The Fanatic in Hollowed Lair, as the particle / smoke effects absolutely destroy my framerate even before enemies have started spawning in.