Extreme Lag Spikes - Xbox One X

Hi, I have started experiencing extreme lag spikes. Is there anything I can do to improve the game performance.

I've tried switching Gateways, reinstalling the game, rebooting/replaced router, getting new IP address from ISP (Verizon Fios 1gbps).

Any suggestions would be appreciated.

Attaching video link.

https://gameclips.io/userwau/f4b8d3e8-f3c7-4da8-8024-1a152b4c3a46/embed

Im with the same issue on ps4, it doesn't slow down like in your clip, it just freezes but the animations keep running.

I'm with a wired connection and tried pretty much everything, but nothing works.