[0.18.8.0] Lag spike every 8 seconds in Plaza

Summary of bug here.

High end pc, consistent lag spike every 8 seconds anywhere in the plaza.

Steps to Reproduce

1: Launch the game
2: Enable an overlay that can show framerate/frametime (rivatuner)
3: Watch the frametime graph for 8 seconds

What I expected to happen

A smooth frametime graph

What happened

And with a framecap set in rivatuner:

This issue is still here on latest update