Thank you to all of you who have visited this page and try it for yourself. I hope it works for you, and if it didn't, at least you tried it. Thank you for all the upvotes and appreciation that you have sent to me.
I noticed that quite a few numbers of people downvoting it too without leaving any reason why on the comments. Please don't bring the hate hammer just because it doesn't work for you. This is purely a workaround to fix some stuff that even the devs themselves failed to fix for months of delays. There is only so much that I can share to help you have better experience like I do.
Please leave an upvote if you are in some way helped by any info that I shared here. Would really really appreciate it. More upvotes will bring more people to try these steps, and the more people trying it, then i hope it means more people might be helped by it as well.

After spending roughly 12 hours I have found the best settings for game performance to gain at least 60fps most of the time, and I will try to explain it here just in case it could help other players who have similar problems as me.

After spending my first 6 hours with fps averaging on 40fps, I tried tweaking stuff to gain performance to no avail, until I found a solution that works for me after spending a lot of time in options.

For note, I am playing on 1440p resolution with i7-9700F + RTX 2070S.
While in the game I tried my own test on a place where I barely got 40-45 fps even though it is not even a crowded place. While doing tweaking I noticed that my fps didn't even change after setting the preset to Low and believed that it is an optimization issue rather than my own PC.

Eventually I made it work by doing steps as below:
1. Choose the preset that you expect your rig should be able to run on. In my case I choose Ultra, no ray tracing.
2. TURN OFF Film Grain and Motion Blur. These step already gave me about 3-5 fps gain at most.
3. Set Cascaded Shadows Range and Cascaded Shadows Resolution to LOW. Now this is where the charm works. Turning those options to low literally gave me at least 10fps average with unnoticeable change in overall graphic quality (at least for me and I think you won't notice it too until you started to nitpick).
4. TURN ON DLSS. Set it to AUTO. This is also a huge part of fps gain. The reason why I don't put it to performance is because the graphic will massively degraded and inventory and map screen became too blurry.
5. Last but not least, after setting the options, EXIT the game and relaunch it. Don't just quit to the main menu, but quit the game completely and relaunch from Steam. I assumed some settings are not applied properly even if you quit to main menu based on my experience.

Further steps to be taken outside of the game settings for Nvidia users:
1. Check your Nvidia game driver and make sure it is the latest. This is very important as I missed the update on my first 3-4 hours of the game before I noticed there is actually a new driver available, and by installing it, it mitigates a few of the performance and graphical glitch issues.

Further steps to be taken outside of the game settings for Windows users: (as for note I use Windows 10 myself, version up to date)
1. Press Windows > type "graphic" > click on Graphic Settings. TURN ON 'Hardware-accelerated GPU scheduling'. Need to restart PC for it to take effect.
2. Press Windows > type "game mode" > click on Game Mode Settings. TURN OFF the Game Mode.
3. On the same window, click on Xbox Game Bar, then TURN OFF the Xbox Game Bar.
4. On the same window, click on Captures, then TURN OFF 'Background Recording' and 'Recorded Audio'.

That's all I have for now. I hope all those steps above will improve your own Cyberpunk experience as it did for me. It might help, it might not, but no harm in trying it. So please just try it and see if it improves your game.

Additional info, my friend who use AMD CPU + RTX 2060 also confirming that setting Cascaded Shadows Range and Cascaded Shadows Resolution to LOW does improve her fps performance as well.

Please feel free to try for yourself, you don't have to pay anything to try those simple steps.
Anyone want to add more additional info, or want to ask and/or discuss stuff, please leave a comment. I would really appreciate it and I will try to reply to any inquiries.

- If your CPU load is too high, reduce the 'Population Density' option in the Gameplay option tab. (by DerGefallene)
- Check if you have the latest Windows 10 version (was on 1909, updating to 20H2 helped me gain a few fps - DerGefallene).
- Right click the Cyberpunk2077.exe and check "Disable fullscreen optimization". (by DerGefallene)
Thanks DerGeffalene!
Please look for a comment from DerGeffalene for info on non-Intel CPU workaround.

- Disable Steam Overlay might give you better performance.
Thanks Czeszko!

More from me:
- Disable Discord Overlay. Discord Overlay and Discord Stream messed up my performance.
- Use Slow HDD Mode ON from Options > Gameplay section. This removes my micro-stuttering issue while driving on city. It works for me despite me using SSD already.