PS5 preview - Inconsistent frame rate, fps drops at high render distances

I'm having my fps drop to 35 or 50 when I'm at 36 render distance, when I'm flying up my fps drops to 30 or 40 but when I'm just walking on land it sometimes drops to 50.

https://1drv.ms/v/s!AvzoReoYdr3Kgxv4AncCq44rx-Ko

https://1drv.ms/v/s!AvzoReoYdr3KgxzJ-p3bo3ZxTOcs