Epic Games has recently launched the first preview version of Unreal 5.1 engine to the public. Developers and enthusiasts can download this preview version for free through Epic Games Launcher.

Epic means that Unreal Engine 5.1 provides performance improvements for Lumen, Nanite and Virtual Shadow Maps (VSM), allowing games to run at 60FPS on current generation consoles and PCs.
official statement:
"Use new features of world partitioning and improved workflows to build an extended world, including support for the coordinates of the world. And enjoy significant improvements in the animation pipeline, such as performance and availability improvements of ICVFX." Another interesting thing about
Unreal Engine 5.1 is the brand new automated particle cluster collection. Automated PSO collection will attempt to resolve shader stuttering issues that you saw before in Unreal 4-engine-powered games. This feature is very attractive, after all, many UE4 games have had similar problems before.
Epic Games says:
"As UE5 pays more and more attention to DX12 and Vulkan, we are focusing on solving runtime interrupt issues caused by creating Pipeline State Objects, which is inherent in RHIs. Previous solutions require the PSO precaching process, which can be a burden for large projects and still leave blanks in the cache, resulting in blocking. The automated PSO collection of
replaces the manual work required to collect all possible PSO combinations for projects while keeping the number of PSOs as small as possible."
Automated PSO collection replaces the manual work required to collect all possible PSO combinations for projects while keeping the number of PSOs as small as possible."