Game lags and then runs super fast to catch up, making game nearly unplayable

I recently got an Asus Zenbook Flip 14 ultrabook for traveling and I’m getting some really weird lag behavior when playing FH4.

It’s got an i7-8550U, 16GB of RAM, Intel 600p SSD and Nvidia MX150 so it easily beats the minimum specs for the game. However, no matter what setting I play it on, the framerate seems to jump around erratically. It will run at a solid 30 FPS on medium/ow and then suddenly slow to a crawl, and then run at super speed to “catch up” to where it should have been without the lag spike.

I’ve experienced plenty of games with lag spikes, but in this game the super speed after the spike makes racing nearly impossible.

The strange thing is that when I run the game on battery, I don’t get these lag spikes and the performance is much more consistent.

Is this some weird interaction with the game engine/dynamic renderer and the highly variable CPU speed of the U series processors?