This update includes the terrain optimizations and other bug fixes and QoL improvements, you can see the patch notes here: https://steamcommunity.com/app/342910/discussions/0/1652169858535956404/
I have finally completed the terrain optimizations! Terrain is no longer loaded from client files, and is streamed from the server directly into client memory. You should hopefully experience a performance boost when loading into the game, and walking around in the world! This took a little longer than I expected as I was dealing with game engine rendering as well. ( Gotta be careful with that code :) )
With this update complete, my next task is going to be working on "breaking down" item mechanics. For example breaking down larger rocks into smaller rocks, larger hides into smaller hides, etc...