Tried to get into Elite Dangerous in VR again recently, but performance is ABYSMAL - any fixes?

Hey there!

Long story short, I have well over 1,000 hours in Elite Dangerous back in the day both in VR and flat screen, but I've been on an extended break for a few years now.

Just coming back to try it again and unfortunately finding the game unplayable in Steam VR, it's a stuttery mess in the main menu already and even worse when I sit in a hangar bay looking around my ship. Playing without VR on a regular 1440p screen on the other hand, at Ultra graphics settings, is running at a solid 165fps (locked) while flying around Jameson Memorial.

Here's the thing, my PC is VERY beefy - I'm running an RTX 4080, AMD Ryzen 7800X3D, 128gb ram... running Elite Dangerous in VR shouldn't be a problem at all for this thing. Every other game has been fine, but Elite Dangerous is unplayable no matter how low I set the graphics settings. Especially strange considering my older much weaker system was able to run Elite Dangerous VR just fine about 4 years ago. So my question is simply this:

Has anyone else had the same issue, and if so, what did you do to fix it? Is this something that's been a problem in newer updates or am I just doing something wrong?