Standing nearby and looking at curiosity shop causes large framerate drops in sandbox mode

[baxterbender]

I've not yet had a chance to test this in actual matchmaking, but when I am close to the curiosity shop my framerate drops substantially, and looking directly at it causes it to drop even further. There is a corresponding spike in server CPU usage that increases as framerate goes down. I've attached a video so you can see exactly what im doing as the framerate & server CPU % goes up and down. Will update once I can test this in a matchmade game.

 

[charles.c.tanner]

I'm also seeing this.

Config:
Laptop with an i5 12500H using integrated Iris Xe graphics, on charge and set to Performance power profile.
Graphics settings: Everything lowest, 1440x900, 90Hz refresh rate, full resolution scale.