Thanks for providing those settings. Motion reprojection makes it hard to compare setups as it constrains the frame rate to a set divisor of the G2’s default 90Hz refresh rate. I suggest you turn it off temporarily to see how your system performs and what the balance is between CPU and GPU frame times without MR enabled.
BTW, I’m not an MR user but why do you have frame rate throttling at 45 FPS when you have set motion reprojection to be 1/3, which is 30 FPS? Shouldn’t these be the same?