Extreme performance drop with new update

I got the new Chase the Skies update yesterday and instantly noticed that my PC isn’t strong enough for the vibrant visuals, which didn’t surprise me because my PC is low end - but even after changing the visual setting back to “fancy” which worked perfectly fine prior to the update, the lag didn’t stop. Simple things like picking up or placing items now runs so badly it’s affecting the quality of the gameplay. I tried reducing the video settings but the lag doesn’t stop. I sometimes find myself waiting seconds for my chests to open as well. I doubt it’s my PC because as I’ve said before, these settings worked fine in the past.