So I found a workaround for all of us who have laptops with specs to run the game smoothly, but for some reasons it runs really poorly.
It seems the game isn’t able to utilize the discrete GPU chip on the board and is instead using the integrated GPU from the CPU. Connecting to a external monitor via DP doesn’t help by itself.
THIS TIP WILL WORK, BUT DON’T TRY IT IF YOU ARE NOT KNOWLEDGEABLE WITH PC HARDWARE
I solved the problem (temporarely) by disabling my iGPU in Windows Device Manager. That forces the game to use the dGPU (which for me is the 3080 mobile) and lo and behold, Infinite runs on Ultra with 100-120 fps @1080p.
This problem might be one every user of a CPU with integrated graphics is experiencing.