I’m surprised if you can’t use Ultra settings with that setup. I’d have pegged it as being capable of at least 50ish FPS or so at the default Ultra settings with DX11 (I haven’t tried DX12 in any real capacity yet, but that might make all 8GB cards stumble at the moment without pulling the textures back).
What does this mean? If you don’t have the sim on NVMe SSD, that’s something you should change ASAP.