Settings for my PC for best visual quality and minimal lag?

Can someone please tell me the best settings for my PC? In terms of all that LOD bios or whatever, volumetric fog, I have no clue what they are and whether they should be on or off. I'm asking because since the release of Septimont, my PC that usually can run on highest graphics has started having lags especially during fights, but I also want the game to look as best as possible. Also I run it on 120 FPS and prefer for it to stay that way.

Here is my PC parts -

Processor - AMD Ryzen 9 7900X3D 12-Core processor
Installed RAM - 32 GB
GPU - NVIDIA GeForce RTX 4060 Ti

Not sure if I was meant to list something else but you can just ask and I'll answer when I can. I don't know anything about PC parts so sorry for my lack of knowledge T_T