High CPU and Latency

The game is unplayable anymore since v1.13. Even with the lowest graphic settings, the game always have high 95% CPU and Latency ranges from 100 to 150. Causing the game to Stutter. I use iRacing on the same PC and the CPU remains around 50% and minimal Latency to 1-10. Please help as it has been very frustrated, and not enjoying the game anymore.
My configuration:
Win 11
AMD Ryzen 5 5600 6-core Processor
NVIDIA GeForce RTX 5070
Ram 64gb