Elden Ring frame drop and sudden high cpu usage

Game runs smoothly until it doesn’t. Suddenly CPU usage jumps to 80-100% and frames drop, game lag and sound starting cutting off. This could stabilize in a few seconds or it could persist until I restart. I have tried everything and nothing worked except disabling EAC and playing offline. When EAC is off, the game never lagged nor even stuttered at all. Reenabled EAC and the game started lagging again. It happens at any graphical settings as well.

My PC Specs are as follows:
CPU: Ryzen 7 9800X3E
RAM: 32Gb DDR5 6000MHz
GPU: RTX 5070Ti

I have tried the following that did not work:

Disabling CPU affinity 0 using Lasso for both EAC and Elden Ring
Setting CPU Priority to High
Turning off CPU Parking in BIOS
Using Lasso Bitsum Highest Performance
Removing all peripherals and using a wired connection for the controller
Turning off MC Device Association Root Enumerator
Turning off the Integrated GPU
Setting frame limits to 59 in Nvidia control
Playing on windowed and borderless windowed
Bringing the Graphic down to the lowest setting
Turning off Steam’s and all other overlays
Updated and reinstalled Graphic Drivers
Reinstalled the game and verified file integrity in steam as well

The only thing that worked was:

Disabling EAC and playing offline.

Please, if there is anything else that I might have missed or any other way to still play online without these stutters, do share with me.