The workbench.editor.showTabs is set to multiple in my environment,
I have added disable-hardware-acceleration:True to my Runtime arguments as well, but even after these changes I get the results as in screenshot attached.
As mentioned before, the High GPU load does not cause freezing of cursor i.e. cursor works without problems, but yes it does hugely affect the performance of my device and even sometimes causes screen tearing due to high GPU load.
I have also attached screenshots of my settings for reference:
