I play on an old laptop and after tinkering with the settings a while, I finally got it to run smooth enough to be playable while still looking beautiful enough for my taste. FPS hovers around 50-60 FPS at 1080p when nothing much is happening but can drop down to 30 if you're around 300 zombies or more. Some stutters happen during driving too but I am still able to control where I'm going as long as I don't go faster than 90 mph.
The biggest performance boost you can get from touching these settings for viewpoint is render resolution, which I have set at 67%. Aside from these, I also use PZ_Optimization with the Recommended preset and render distance at 104 tiles (You can find this setting at the driving tab for this mod).
Hope this helps : D
Laptop Specs:
CPU: i7-7700HQ
GPU: GTX 1070 Mobile 8GB VRAM
RAM: 32gb DDR4 (PZ set to take maximum 10gb)
Edit: Forgot to add and might be important but the game folder is in my SSD