wouldn't i see a cpu thread pegged at 100% then?
One CPU thread should have much higher utilization than the others, but I don't know if it will be pegged or not. If it's creating too much overhead for a single thread, then the thread would likely just stall, causing the GPU usage to plummet.
On a single thread, you'll have the game code running, the driver, the API, the kernel. Sort of like this, but worse since this image is showing DX11 compared to DX12. DX9 was really a mess, and I'm happy that developers have finally started abandoning it..
BTW, if you're running an AMD GPU, then driver overhead is likely to be even worse than if you were running a comparative NVidia GPU..