If micro spikes in thread usage are so fast they almost dont register at all in hardware monitoring, and they are tied to low performance, then it's clearly an optimization issue and not any of our hardware.
These are not mutually exclusive things. Bad optimization does not in any way imply that faster hardware cannot improve performance. These are optimization issues that result in greater demands on hardware.
If your GPU utilization is not maxed out, you are almost certainly CPU limited, even if monitoring software with longer polling rates fails to report the true extend of CPU utilization. This can be demonstrated with faster polling rates, or via altering CPU performance. If there wasn't a CPU bottleneck, then swapping out my 3900X for my 5800X wouldn't have resulted in a performance increase, and neither of those CPUs would have out performed my 5820K setup in non-GPU limited areas...but it did and they do, in all non-GPU limited scenarios, even where no single logical core was hitting maximum utilization as reported by more typical polling rates.
Not really sure what kinds of conclusions you are seeking by determining how fast the CPU spikes are.
I wasn't seeking any particular conclusion, the conclusion I came to, as a result of the preponderance of evidence is that the game is essentially always CPU limited when GPU utilization dips, even if that doesn't seem to be the case. The high amount of jitter in CPU utilization explains how things like Task Manager can be reporting low per-core CPU utilization, even in situations where the game is clearly waiting on the CPU.
The assertion that the game isn't CPU limited because whatever software one is using to report CPU utilization doesn't show any logical cores reaching full utilization is fallacious. The CPU limitation is still there, the game is still being forced to wait for the CPU to finish work that could be finished faster, those spikes in load are just being averaged away over long polling rates. This should not be any harder to understand than low total CPU utilization on a multi-core part being a bad indicator of a lack of a CPU bottleneck on a mult-core part--just as lightly threaded loads aren't going to be well distributed across many core CPUs, highly bursty/spiky/jittery/transient loads aren't going to be well distributed through
time. A faster CPU will still shorten the duration of those spikes and still improve overall performance, to some degree.