Sporadic, short, and random framerate drops

At seemingly random points my framerate drops down to ~20-30 fps without any noticeable difference in CPU usage or memory usage. This began happening approx. mid January, but I don't recall the game updating to cause it. It doesn't seem to matter what geometry I'm looking at, nor on what map, frames randomly drop even if I'm looking towards the sky. The low framerate only lasts for ~1 second, but happens frequently, ~every 30 seconds.

These frame drops only happen on Apex Legends, regardless of what settings I change, if I play in windowed, what I choose for my refresh rate, etc. I've tried verifying game files, completely reinstalling, various settings in the NVidia control panel, and so on. My hardware should be capable of running this game at 60+ frames, and in the past it has, and currently does aside from these random sporadic framerate drops. I have the performance overlay turned on, and my frames never drop below 59

Recording of issue: https://youtu.be/KtJDlFqerSs

In the attached video you should be able to see the frame drops at the beginning (as I jump off the bridge), towards the middle (as I'm running between buildings) and at the end (when I'm sliding). The video also shows that the in-game frame counter doesn't reflect the short framerate drops being captured in the recording.