HOW TO FIX HOGWARTS LEGACY FRAME DROPS AND LAG ON PC
One way to possibly fix frame drops, lag, and stuttering in Hogwarts Legacy on PC is disabling v-sync in-game and enabling v-sync in the Nvidia control panel.

This tip comes courtesy of a Reddit post sharing solutions for PC performance woes. It’s also suggested that you change Nvidia low latency mode to on+boost.

In addition to the above, it’s also recommended that you enable GSync, and you also want to ensure your graphics card driver is fully updated. Below is a reminder of the recommended and minimum system requirements via Steam:

Minimum:

Requires a 64-bit processor and operating system
OS: 64-bit Windows 10
Processor: Intel Core i5-6600 (3.3Ghz) or AMD Ryzen 5 1400 (3.2Ghz)
Memory: 16 GB RAM
Graphics: NVIDIA GeForce GTX 960 4GB or AMD Radeon RX 470 4GB
DirectX: Version 12
Storage: 85 GB available space
Additional Notes: SSD (Preferred), HDD (Supported), 720p/30 fps, Low Quality Settings

Recommended:

Requires a 64-bit processor and operating system
OS: 64-bit Windows 10
Processor: Intel Core i7-8700 (3.2Ghz) or AMD Ryzen 5 3600 (3.6 Ghz)
Memory: 16 GB RAM
Graphics: NVIDIA GeForce 1080 Ti or AMD Radeon RX 5700 XT or INTEL Arc A770
DirectX: Version 12
Storage: 85 GB available space
Additional Notes: SSD, 1080p/60 fps, High Quality Settings
HOW TO FIX HOGWARTS LEGACY STUTTERING ON PC
In addition to the above, following the below steps may also help to fix stuttering, lag, and frame drops in Hogwarts Legacy on PC for Windows 10:

Navigate to “Exploit protection”
Click the “Program settings” tab
Click the “Add program to customise”
Click the “Choose exact file path”
Navigate to the HogwartsLegacy app and select it (likely in C:\Program Files (x86)\Steam\steamapps\common\Hogwarts Legacy)
Scroll down to the “Control flow guard (CFG)”
Check the “Override system settings” and toggle the “on” to “off”
Click “Apply”
Restart PC