https://www.reddit.com/r/unrealengine/comments/1cpmwmg/is_a_lumen_only_game_too_gpu_demanding_for_todays/

r.Lumen.DiffuseIndirect.Allow (0 or 1)

Will stop emissives from casting light onto nearby surfaces, which is insanely expensive. There may be a way to reduce the 'quality' of this, but other than adjusting the temporal blending I couldn't figure it out.

r.Lumen.ProbeHierarchy.SamplePerPixel

r.Lumen.DiffuseIndirect.CullGridPixelSize

r.Lumen.DiffuseIndirect.CardTraceEndDistanceFromCamera

r.Lumen.IrradianceFieldGather.NumProbesToTraceBudget

r.Lumen.DiffuseIndirect.MinTraceDistance

r.Lumen.ScreenProbeGather.RadianceCache.GridResolution

r.Lumen.DiffuseIndirect.Allow

r.Lumen.ScreenProbeGather

r.Lumen.ScreenProbeGather.ScreenTraces

r.Lumen.ScreenProbeGather.Temporal

r.Lumen.ScreenProbeGather.Temporal.MaxFramesAccumulated

r.Lumen.ScreenProbeGather.VisualizeTraces

r.Lumen.ScreenProbeGather.DownsampleFactor

r.Lumen.ScreenProbeGather.ScreenTraces.HZBTraversal.MaxIterations

also volumetrics are actually very cheap at low resolutions

r.VolumetricFog.GridPixelSize

r.VolumetricFog.TemporalReprojection

Shadows also play a huge role

sg.ShadowQuality

r.Shadow.Virtual.Enable

r.ShadowQuality

r.Shadow.MaxResolution
r.Shadow.Virtual.ResolutionLodBiasDirectional=0

As for Lumen, I recently added these cvars to my commonly used list to improve performance:

r.Lumen.ScreenProbeGather.StochasticInterpolation=1 r.Lumen.ScreenProbeGather.SpatialFilterNumPasses=2
- Consider enabling single pass projection, which is experimental but helps a lot with lighting cost  
    
- Set up strict light culling distances  
    
- Disable shadow casting on fill lights  

    
- Use Temporal Upscaling; TSR is the default, TAA in UE5 is now TAAU which also supports upscaling. Set your screen percentage to something like 80% with the option to reduce it on lower end hardware, this is a considerable performance boost but comes at the cost of scene quality