I have the same problem. Even tried to play on older drivers. Formatted my pc. and everything. I cant do anything to fix it.
Even tried to talk on the Rust discord but no luck there. just many trolls there.
So what I have done:
Reinstalled rust several times - NO FIX
Reinstalled computer fully - NO FIX
Reinstalled Drivers - NO FIX
Roll back driver to when rust was running just fine - No FIX
My pc specc ingame:
Task manager:
So I am 100% sure theres a problem with the rust client and not from my end.
Maybe we can get some help?