Performance has decreased since new update
I am playing on the Xbox series S and since the 90s update Free Skate has been extremely laggy and buggy, barely 30fps and frames will skip.
Ideas
It was a server issue, so disabling Traffic and Pedestrians did nothing. Also changing any graphical setting did nothing and was more than likely a placebo effect.
Making other players invisible may have helped as the less people the better the performance it seemed as you could play solo challenges perfectly.