Ver 3.5.5 aim to provide more options for graphics settings through

Menu > Settings > Graphic

If you have an older graphics card or your game's performance is GPU bounded, my advice is to first try toggling on Simple Shader and Simple Scene FX to see if it makes a difference - these are the 2 options that has the greatest impact on GPU performance.

Here are some comparison images depicting simple and complex shader:

Sky Sphere -
https://steamcommunity.com/sharedfiles/filedetails/?id=2703164108&fileuploadsuccess=1
Water Plane -
https://steamcommunity.com/sharedfiles/filedetails/?id=2703165322&fileuploadsuccess=1

===== 2021/01/01 Ver 3.5.5 =====

fix: launch game resolution change text not converted to localized text
fix: sphere forward throw line trace target location if no valid target actor
fix: wall run side movement while camera facing down direction issue
fix: fix hair_07 (Unleash) physic property
add option for simple shader
add: option for simple scene fx
add: option for simple player fx
add: options for simple npc fx
add: option to adjust gamepad assist extent