Yeah... I came across that DIY-fix, but I really can't be bothered to mess with all that stuff.
For now, I'm hoping for another hot-fix and will try to ignore the issue, but that is turning into a test of my patience in some areas of the Rivington map.
Try walking around the Circus for example or enter and then walk around the inside of the Temple further down the road. Basically any time you enter/leave a "sub region" of the map, or that's how I would describe this.
Seems to me like the larger that sub-area that you're entering is, the longer the game will hang/rubber-band.
Also very noticeable when leaving camp after a long rest. It takes *forever* now for the world and my party to finally "get going" after I press "leave camp". Never seen this before the patch and I also didn't see it with patch 4 applied but before reaching Rivington on this play-through.
Same deal with fast-traveling using waypoints. Going from Rivington to the Sharess Caress WP like that will leave your party standing at the new waypoint and the game will take at least 30 secs for the fast travel audio and visual effects to play - and only then will your characters respond to input.
Seeing how many folks (both on PCs and PS5s) posted about this on reddit, I find it a bit odd that Larian didn't catch this behavior themselves prior to release of the patch. It doesn't seem like this is a rare thing to happen and it shouldn't be difficult to trigger this one. Especially since Act III has always been a bit of a "problem child" when it comes to performance and is probably getting most of the devs' attention.
S.