Poor Link performance

I'm not even talking about "when streaming from my PC" - just launching the Link app on my Quest 3, it's barely usable. Frame rate is like 1 frame per 1 to 1.5 seconds. I'm using a USB3 cable, the Link USB test in windows says I have between 2.3 and 2.6Gbps bandwidth. Video is literally how it looks like - UI rendering is unsteady, often see black where it failed to update the environment rendering,  and it takes me a minute just to launch and quit. Is this something that tweaking PC bandwidth would even affect if I'm not running anything on the PC? I'm primarily using Link to allow me to quick launch a project from the Unreal editor.

Dropbox Video