For general performance, the game is perfectly playable. It's capped at 60 fps, and there is still the occasional stutter (like, once an hour max for me). But if performance is what's been keeping you from picking up Elden Ring, I would say jump right in. The worst performance issues have been fixed, and it's easy to look past any other issues.

Regarding ultrawide: as far as I know, there's no official plan to add ultrawide support. So if you're waiting for ultrawide support, you may be waiting a long time.