Earlier today at a friend's house, I saw CP2077 running on a 6900 XT for the first time (12-core Zen 3, 32GB DDR4, PCIe 4.0 NVMe). We saw similar performance at 4K with no ray-tracing, it was in the 40fps range, sometimes dropping a bit below 40fps.
Hahahaha yupz, that's how it was for us too.
I can confirm that level of performance as well.
So I was playing at a custom letterboxed ultrawide (3840x1620) and it was mostly at 60-ish fps. At some intense scenes it dropped into the 50's, which I didn't like.
I remembered that reviewers were claiming that the highest setting of FSR was mostly indistinguishable from native,so I decided to give that a try.
Note here that FSR is not included in Cyberpunk, but if you use the "Lossless Scaling" application you can apply it in any title that can run in borderless window mode. It requires a little more tweaking than if it had been included in game though.
You have to run the game in borderless window, set the desired display resolution (3840x1620 for me) as your desktop resolution and then set the resolution to scale up from in game, then alt tab to the app, click "scale in 5 seconds" and then switch back. Once the five second timer is done, the active app scales using FSR (or the selected other scaling method)
For Cyberpunk, you have to set a custom resolution in drivers for the resolution to show up in game and be able to be selected. (I tried just forcing it in the config file, and that was not happening, if the game doesn't see a supported resolution the engine will not let you select it, even in windowed mode.
Since I read FSR ultra was a scale factor of 1.33 I went with that at first, setting the game to 2888x1218 and scaling it to 3840x1620, an dleft the sharpness at its default 0.5
This provided a great boost in framerate (up to 90's) but I did not find this to look equivalent to native at all as had been reported. (Maybe they meant 1.33x number of pixels, not 1.33x liner resolution?)
Anyway, since I had more frames than I needed and wasn't happy with the quality I decided to go back and choose a different scale from resolution. I randomly selected 3360x1440 -> 3840x1620, again with sharpness at default of 0.5.
This has been perfect for me. Framerate goes up to 70-80 on occasion, but minimums stay at about 65.
I have given some thought to trying to scale up from a playable RT resolution, but since medium landed me at 22-24, that is probably not practical. Lucklily I switched back annd forth between Ultra RT, Medium RT and RT off, and didn't notice much of a visible difference between the settings, so I am happy playing without RT.