I'm sure Larian is optimizing the game as I write this.
However, in terms of performance, I've had different experiences on different machines.
The best way I've found to run the game on weaker PCs is to cap the FPS in the video card software and turn off some texture settings.
Even the best computer in my party (i7-11th, rtx3070, 32gb) is struggling without removing some features directly in the video card software instead of the in-game settings.
On the other hand, our worst machine can run the game with graphics similar to PlayStation 2 using the settings within the GPU.
When we play multiplayer, the host can handle the bad performance, if they have a better computer.