Not sure if this is specific to Patch 7, bought the game today and jumped in to a Freeport area on EU PvE server.
The performance was dire to say the least, there were 120+ players in the zone but the game was constantly freezing up, especially when turning, it was impossible to fight anything the animals would warp all over the place including right in front of you so you couldn't even run away. It felt like FPS drops but after jumping on a Unofficial server, which was smooth as butter with no lag issues at all, I can only surmise the official server and subsequent amount of players was the issue.
I hope the performance/stability issue is better, I actually had a refund request pending on steam but have cancelled that to see how this new patch works out. Fingers crossed!