I am commenting as a hardware owner with identical CPU/GPU specifications - but it’s reversed for me - Operating System is on a slower SSD, with the sim on an M.2 NVME, and I only have 16GB RAM.
I am operating a mostly Global Low Graphics Settings, with traffic turned way down and offline AI where possible. The only thing on Medium with material impact is Clouds. I also use Live Weather often.
I am getting at an average 45-50 fps in Bing Maps areas, at least 35 fps in most Photogrammetry areas, using a variety of the single engine GA planes.
You have your settings way too high if you want to get to at least an average 30 fps. This configuration doesn’t really support Ultra at all - for that you need a beefier GPU and faster CPU. It’s just the nature of the beast. I’ve seen users claim Medium and High and they have a good experience. I’ve tried that and the frame rates just drop into slide shows, so your experience may vary. I would say our config Ryzen 5//RX580 is probably more a Low-Medium mix at the most if you want a framerate at or above 30.