Low FPS after new update 1.19.31

Since the new 1.19.31 Hotfix update that came out 10/5/2022 the game has been very laggy like the FPS is really low. And the movements are also very slow like jumping, swinging a sword/axe/etc. 

I've tried changing a lot of different settings, turning things on and off, increasing and decreasing things in the settings and nothing has worked to improve these issues.