This was a common issue with the previous games especially on xbox when the game was saved to an external drive. If you’re on xbox, try making room on the internal drive and see if the situation improves.
My guess, draw distance suffered a major blow in an attempt to reduce loading times. Heaven forbid the game loads before the end of that crappy song.
Before the update the draw distance would flicker on objects like mountains or something, but after the update you can barely make it through the city after 200 mph.
Either that or it’s just another bug built upon 100 other bugs. These devs never learn, gotta fix bugs, not build on top of them.