What's wrong?
Is normal. If it has enough, nothing more will help.
My components are
AMD Ryzen 7 3700X
NVIDIA RTX 2070S
16 GB RAM
So you should easily have a few hundred FPS with shader… I mean it's Minecraft… Unfortunately it was…
Driver current?
Yep
You pretty much underestimate. Shaders (especially SEUS etc.) really draw a lot of power.
What resolution? And what a shader?
Not necessarily.
FPS limit active?
Turn off vsync