Extreme fps drops only when playing steam games

[Phinlorian]

Recently every game I play on steam has been having extremely bad fps drops very frequently. The thing is, I dont have a bad pc, so this shouldn't be happening. My GPU is a Nvidia GTX 1070, CPU is Intel Core i9 9900K, motherboard is TUF Z390-Plus Gaming (WI-FI) from asus, and I have 32 Gigs of DDR4 memory. I used to be able to easily run steam games on over 100 fps consistently, now every 1-2 seconds I get a super bad fps drop, making every game completely unplayable.

I've noticed through task manager that when playing a game (the game I was playing at the time is UpGun) whenever I get a fps drop my GPU usage goes from around 50-60% all the way down to 4-8% usage. I also thought it would be noteworthy to mention that the GPU's temperature while running the game is around 60-68°C, and the CPU's temperature is around 50-56°C.

I've tried to no avail:
Updating GPU drivers
Uninstalling and reinstalling GPU drivers
Uninstalling and reinstalling the game
Uninstalling and reinstalling Steam
Changing graphics settings on game to lowest possible
Setting PhysX settings to GPU via Nvidia Control Panel

I know this issue is steam only because I can run Minecraft and other non-steam games like Overwatch with 100-150 fps consistently.

Any help with this issue will be massively appreciated.

EDIT: I can play VR Chat with absolutely no issues on desktop mode, so now I'm at a complete loss as what the issue actually is.