Stuttering Gameplay

I've been playing Unbound on pc without issues for the past few months but ever since the Vol. 5 update, the game has been pretty much unplayable for me. FPS drops from 190 down to single digit at times, occasionally the entire screen goes into this colorful mess (see photo attached). I have tried reinstalling the game, and clearing the cache but nothing changed.

Here's my pc specs:

Intel 13th Gen i5-13600KF

32gb DDR5-4800MHz Ram

Nvidia RTX4070 Super

2tb Samsung SSD 980 Pro

750w Asus TUF PSU

I honestly don't think hardware is the issue here since it used to run fine. Is anyone else experiencing a similar issue?