Massive FPS drop when suspending and re-entering Minecraft

Steps to Reproduce

1. Open Minecraft
2. While on the Mojang splash screen, press the Xbox button on your controller, then click “Home”. Do NOT close the game.
3. After a while, open Minecraft again.

Expected Result

The game will continue to run normally, with no major FPS drops.

Observed Result

Massive FPS drop occurs. 3 FPS is averaged in the menus, and 1 FPS is averaged when playing a world. (These FPS counts were taken from beta 1.17.10.21.) The only way to fix this FPS drop is to close and re-open the game.