PROBLEM SOLVED
After making this post I realized this issue may in fact be related to GYSNC so I disabled it. Simplfy3D was then able to run without any hitches at all. Rather that globally disabling it I changed the Simplyf3D profile in the NVIDIA control panel to Monitor Technology - FIXED REFRESH.
Happy Days!
ORIGINAL PROBLEM
I upgraded to version 5.0 when it came out and have been really enjoying the news features.
However, ever since the upgrade and continuing through all of the updates including 5.1 I am experiencing a really annoying application slowdown.
Basically, when I mouse over any of the 15 icons at the top of the UI or after I release the mouse after a view rotation it causes the applications to stutter for a few seconds. The mouse becomes really laggy and MSi after burner reports the application frame times shooting up to 500ms-2000ms before settling back down.
I have tried things like resetting my NVIDIA Control panel settings to default as well as creating a profile in there for Simply3D and messing around with the settings but nothing helps.
I have also checked CPU/GPU usage and cannot see any sort of usage spikes.
Here is the strange thing.
If I move the Simplfy3D window over to my secondary monitor it has zero performance issues. I have also noticed if I have a another window on top of simplfy3D so its not actually the selected window I can mouse over the icons and not cause the frame time spike/laggy mouse to occur.
Any suggestions would be great at its just really annoying.
System Specs
Windows 11 (latest version)
i7 13700K
32GB DDR4 3600 14-14-14-28
RTX 3080 12GB (Latest drivers)
120hz set on both displays
Monitor 1 - GYSYNC Predator 34inch Ultrawide 1440p
Monitor 2 - LG G-Sync 27inch 1440p