I feel like this should be a bug so I just wanted to report that during rainstorms I've noticed massive FPS drops, from 140-160 to 20-30FPS. I tweaked settings until I realized it was specifically Dynamic Puddles. I tried adjusting puddle quality, with pretty unnoticeable changes. I have a pretty high end system and this graphics setting in particular seems extremely unoptimized.
CPU Ryzen 5800x3d
GPU 6900XT
64GB DDR4 3200 RAM
game on gen 4 PCI-E m.2 NVME SSD.
Love the game fellas, just wanted to report this option although it looks good, its crazy how much this affects framerate.