Sajin
You tried the card in another pci-e slot? You using two separate pci-e cables to power the card? Have you tried moving one of the affected games to another hdd/ssd to see if that makes a difference at all? Have you tried reapplying the thermal paste on your gpu?

oblivionjosh
Hi there, I have been having this issue for a few months now and it is getting extremely annoying... I am noticing reduced performance games, I first noticed the issue in Gears 5, and then I noticed it happening in Red Dead Redemption 2. This happens in a couple of games, but some other games seem to be working perfectly with no issue. 
 
After restarting the game or my system (sometimes a couple of complete system restarts are required) and the performance goes back to normal... Originally I though it was a driver issue, but I have tried multiple driver versions, all the way back to January. I am currently using 466.47 and Windows 10 21H1. Each time I make sure to wipe my previous drivers with "Display Driver Uninstaller". 
 
I ran GPU-Z to check if the GPU was being utilised properly, each time before and after restarting. My GPU is being fully utilised 99% load and the GPU Clocks and Memory Clocks are the exact same. No differences yet the performance is 15-20fps higher after restarting the game a couple of times. Never seen anything like this. Very strange... I did however notice that the power consumption is higher after restarting the game for both the board and the GPU, which could explain the increased performance... I have tried everything I can think of to resolve this issue, but it still occurs and sometimes multiple game reboots/system reboots are required to fix it.
 
https://imgur.com/a/JPqSO7U - Photo of GPU-Z and FPS counter before and after restarting Red Dead. GPU load and clocks remain the same, but the GPU power draw increases along with the fps from 75 to 88.
 
(Extra info/Some of the things I have tried)
This is a new system I built in February, the only part carried over was the GPU.
I had this issue before the Windows update KB5001330 broke gaming performance.

• Max performance power plan in Windows and Link State Power Management is disabled. 
• Set game to prefer maximum performance in Nvidia Control panel. 
• Fast Start-up is disabled in Windows and in BIOS. 
• Tried multiple driver versions all the way back to January. 
• Wiped drivers with Display Driver Uninstaller. 
• Moving games to another SSD. 
• Resetting BIOS to default factory settings and updating BIOS to newest stable version. 
• Forcing all PCIe sots to run in Gen 3. 
• Using Debug mode in Nvidia control panel to set GPU clocks to factory default. 
• Reseating the GPU and power connectors, because why not. 
• GPU and CPU load is at 0-1% on desktop, no other unnecessary applications are running. 
• Disconnecting my second display. 
• Tried GPU in different PCIe slot. 
• Tried using different 8 pin power cables to GPU. 
• I am using two separate power cables for the GPU. 
• Switching between master/slave bios on GPU.
• All system temps are good. 
• Disabling G-Sync and lowering refresh rate to 60Hz. 
• Hardware-accelerated GPU Scheduling on/off. 
• Enabling MSI mode for the GPU.

 
(System Specs)

• Windows 10 Pro 64-bit (21H1)
• AMD 5950X
• Corsair H115i ELITE CAPELLIX
• Asus STRIX X-570 E
• G.Skill Trident Z RGB 32GB (2 x 16GB) DDR4 3733MHz CL16
• EVGA 1080 Ti FTW 3
• Corsair AX 1000W
• Sound Blaster AE-5
• Samsung 980 Pro 1TB - OS Drive
• Crucial MX500 2TB
• Samsung Odyssey G7 27" 240Hz - Primary display
• ASUS VX239H - 2nd display

Any help would be appreciated, thank you in advance.