Please help! FPS is capped at ~17fps on 980ti

[Killahills]

Alright, I am officially stumped, hoping that someone out there can help me figure out what is going on. This is driving me insane.

For some reason Just Cause 2 is capping itself at around 16/17fps. I've never really seen a game do this. I have tried different resolutions, vsync on/off, turning off steam overlay and adjusting various nvidia vsync options. Does anyone know what could be causing this? My system is more than capable of running this game so it shouldn't be that... I'm on Win10, key specs are i7 6700k, 16gb ram, 980ti, using the latest nvidia drivers and running on a TV with native desktop resolution set to 4k.

Any insight or troubleshooting tips would be greatly appreciated...