Lag comp is one of the issues, but there are others that make the issues with hit reg even worse.
BF2042 has introduced low TTK weapons and faster moving players into the game compared to the previous two games (BFV and BF1). The speed of players, speed of kills, server tick rate, and lag comp were fairly decently balanced when you played with players with relatively the same ping in the last two games. That is where a server browser helped and servers that had ping restrictions. The games felt tighter.
Now, with a 45Hz tick rate, faster TTK weapons, and faster moving players, you have a recipe for disaster which we are now experiencing.
Honestly, one fix would be to slightly lower RoFs and/or damage enough that the fastest possible kills can't be packaged in one frame of death (unless headshot, etc). The bundling of bullets gives you the feeling that you were insta-killed (normally by a higher ping player) when the server caught up and sent you their info. You will often be killed safely behind cover.
I know this would not be popular as this is supposed to be a modern shooter, but unless they upped the tick rate to 60Hz, and added a Server Browser with static servers/lobbies, I don't know if this will ever be fixed.