In my limited time in update 11 so far, the game has remained FPS locked to my monitor (60fps) in all situations, with most graphics settings at the max. RX6900XT. With update 10, the frame rate would generally drop a bit on planetary surfaces, and it hasn't done so in update 11 - but I've only played for a limited time so far.
I have not tried conflict zones yet (both space and on-foot conflict zones would cause a marked FPS decrease, with CPU and GPU load well below 100%, as if there was a call to sleep() somewhere in the game loop).