Turn on allow tearing in quick access menu. 
This gets you 45fps indoors, 40-45 outdoors. Very playable!
Other than the game settings below, my deck is also undervolted to -30,-30,-30. Otherwise all stock.

Window mode: windowed borderless
Vsync: off
Upscaler: FSR, Ultra Quality (FSR1)
Sharpness: 95 (tweak to your preference)
Gamma: 20
Chromatic Aberration: On (personal preference)
Film Grain: off
Motion Blur: 25
Field of View: 57
Renderer: D3D12 Ultimate (Raytracing)
Asynchronous Compute: on
Texture Quality: High
LOD Quality: High
LOD Range Multiplier: 100
Anti Aliasing: Stable
Motion blur: low
Particles: medium
Sun shadows: very low
Contact shadows: low
Ambient occlusion: low
Global illumination: low
Reflections: low
Ray traced flashlight: off
Fog: low
Postprocess: high
Glow: on
Light streaks: on
Lens flare: on