Having number of background characters on ultra or higher is definitely not optimised, the best is at low or medium since this impacts fps a lot. (the number of npcs will still be good)
Space reflections should be on low there is isn't a huge difference visually between low and high but the perf change is big. Water on ultra+ makes little difference to ultra so you should keep it lower if you want fps too.
Personally I think the game looks better with both bloom and DoF off and this will give you some fps. Shadow quality can be bumped up to ultra+ or ultra since it won't hurt your fps much.
Grass density on medium is too low imo the visuals will look much worse but it is very intense perf wise, high or ultra is good enough here.

@sumark94 you can still play the 1.32 patch

Go to your Steam Library.
Right-click on The Witcher 3: Wild Hunt and select Properties.
Go to BETAS and select CLASSIC - the game will update automatically.

The upgrade did little for the rest of us. Now I have to stumble through these settings to make it work just normal. How about just having a quick button to get ride of the "upgrade" and revert back to the original?

Glad I could help Banderx27, and thanks for the positive feedback, will continue doing coverage for more games!

The top video showcasing each was set up perfect for me. I usually spend too much time going through each setting to get my game optimized. But this was such a time saver. Thank you so much for creating this and linking it here! Keep up the great work.

No problem!

Great work, thanks