I reformatted my computer because of this update. I didn't think about iCUE as being the culprit until after I reinstalled Windows and had the same performance issues after installing the utility. Using 3.18 now and not having the FPS drops/stutters.
If I ever have a performance issue in the future, the first thing I'm checking is iCUE. If there's ever an update available for iCUE, the first thing I'm checking are these forums. Is QA in the house?