Since you want max performance tracking the devs didn't include a built in tool but msi afterburner with rtss is your best friend for watching framerates and temps in real time. You'll want to set up those custom overlays first, before messing with the graphics settings. Important to note that hairworks hits performance pretty hard, might want to turn that down or off completely, also shadows and foliage density make a big impact on fps without totally ruining the visuals.

Some players are getting better stability by switching from dx12 back to dx11, especially on older hardware when things start getting choppy. Keep a close eye on your temps while running ray tracing stuff, that'll tank your performance if not balanced right. Good to know the overlay can help you find the sweet spot between visuals and stable frames.

For console players it's a bit trickier since you can't use those monitoring tools, but dropping the crowd density helps if you're seeing stutters, and turning off motion blur can make things feel smoother. The next gen patch loads way faster now but watch out for some rt hitching that can pop up during intense scenes.