Some NVidia users report better performance with DX11, for me on an AMD gpu there is no measurable difference.

Nobody really knows how physics sync works or if it works at all. I didn't measure any performance loss with it on 'high'.

Set as follows.

Biggest FPS hits are Shadows and Texture filtering. The image quality loss from lowering Texture filtering to Medium is next to zero, and you gain around 7-8 FPS compared to V.High.

Shadows down to Medium is more visible but not much at speed as you drive.

All settings chosen to keep the image as close to Very High as possible, but dropping any settings that you struggle to notice on side-by-side screenshots.

Reflections can and will eat FPS, but the difference going down from High to Medium is very noticeably uglier, so I kept it at High. Difference to medium is about 1-3 fps, depending on how wet the road surface is.

SSAO going below High makes scenery, grass, trees and bushes look very washed out and discolored due to the lack of shading. High vs Very High is not noticeable and gives you a 1-2 fps gain.

Anti-aliasing will depend on your preference. Some people can't stand TAA, I can't stand how jaggy things are with just FXAA. Adding TAA to the mix drops about 1-2 fps.