The video mainly speaks for itself.
When Beyond Light dropped the game played perfectly fine. I haven't bought the expansion or the season pass. I've kept the game up to date with Steam, I haven't launched or ran the game since then and I haven't changed my hardware.
I ran the game to find that for some reason my game resolution was set higher than 1920x1080 which I left it at, and all the graphical settings were set to 'low'. After changing these settings and setting the game resolution back to one that my screen actually supports, you see what's in the video.
This's unplayable.
System specification:
eVGA GeForce 1080 FTW2 version 461.40 drivers
32GB RAM
intel i7 8700k
Windows 10 pro 19042.804 20H2
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In CVARS.xml, check value cvar name="force_enable_multi_threaded_render_submit" and make it sure it's set to 0 value="0"