Specs: Windows 10 22H2 19045.5371, Ryzen 7 5800X3D, 32GB RAM, RTX3060 (driver ver 572.16), Pico 4 running OS 5.4.0.
ALVR installed via GitHub launcher download, to "C:\alvr_launcher_windows\ALVR Launcher.exe", the headset part is installed via the launcher too.
On ALVR 20.12.1, I have to crank the bitrate slider all the way to 1000mbps, otherwise the image is really blocky and full of what looks like compression artifacts.
At the same time, no matter if the bitrate is at 30 or 1000, the framerate stays around 36-40, even in the SteamVR void.
For comparison, Virtual Desktop gives me a stable 45FPS on PC spacewarped to 90FPS on the headset on Medium quality setting (2064x2064 per eye iirc) and Streaming Assistant (Pico's native app) stable 90FPS on HD setting (similar resolution), while both are set to 100mbps.
sessions.json attached for ALVR settings.