since it's not HT enabled it is nomal, because BF4 uses CPU powers alot. In win 8.1 bf4 uses ~80% of i7 4770k@4.2GHz
if i disable HT on my i7 4770k it is 100% loaded as well, and i do have some fps drops due to CPU/memory combined with software. But when it occurs my CPU isnt 100% loaded and my 2SLI 780 GTX Lightnings are not 100% loaded either.
Partially Win8.1 solved the issue (70fps min -> 100fps min) but the bottleneck still exists somewhere in software or OS.
you need to check out if it is your GPU that bottlenecks you or software. In order to do so just check you GPU usage while expiriencing lowest FPSes if its not 100% then upgrading win7 to 8.1 would help. More info and benchmark you will find here http://www.overclock.net/t/1433904/comparison-of-windows-7-vs-windows-8-8-1-ht-enabled-vs-disabled-on-battlefield-4/130#post_21303405
as for solving this, try going MESH DISTANCE = high, MSAAx2, FXAA=medium, Occlusion=SBAO, render quality 90%. This might make it playable with minimum losses to image quality.