Wow this game runs like ass on my 970 and 3770k @4.5 on the high preset. Possible to get a locked 60?
I have a 1060 6GB and a 2550k @ 4.5 GHz, and while I've only played through the intro and up until Eos, I've been able to get a nearly locked 60 on Habitat 7 in the intro, and while running around on Eos with these settings: Some drops in the Tempest, and something about the conversation cutscenes makes them really demanding.
Here's what I would suggest for you, since the 970 is a bit slower than a 1060. Start with the High preset. Bump up Texture Quality to Ultra if you have the VRAM to spare, and Texture Filtering to Ultra. If you're forcing 16x AF in the Nvidia Control Panel, change that to Application Controlled. In-game texture filtering is slightly faster. Change Texture Filtering Quality to High Performance in the Nvidia Control Panel.
The visual difference is pratically non-existent, and there is a notable boost to performance.
Drop Shadows, Terrain, and Vegetation to Medium. This should now be a match for PS4 Pro settings, with better texture filtering, and textures if you have enough VRAM for Ultra. Drop Ambient Occlusion to SSAO if you are still short of 60 fps, and that should be a match for PS4 and Xbox One settings, aside from resolution. Set Framebuffer Format to Compressed (32 bits), as Half16 (64 bits) does incur a performance hit and the visual difference is pratically non-existent. Increasing the FOV does incur a small performance hit as well, so be careful with that. If you're still not happy with the level of performance after all of this, I would suggest lowering Texture Filtering to High, and/or using the custom resolution scale option and trying something like 0.90. DO NOT set Lighting Quality any lower than High unless you want everyone to look literally really rough for some reason. Same goes for Mesh Quality, leave that on High unless you don't mind your characters having pointy elf ears.
One last thing, I set a framerate limit of 60 in RTSS, in conjunction with Vsync and Triple Buffering in-game to smooth out the framepacing. Borderless Fullscreen also comes with a small performance hit so it's best to avoid it.