It doesn't matter what library or framework is used - even jQuery can score 100% page speeds on Google Lighthouse. It really only depends on following every single nitpicky thing that Google Lighthouse recommends, and finding a solution for it. I took a site (actually a few thousand sites) that was scoring about 5 to 35 out of 100 on Google Lighthouse (depending on the customiztions), up to 100/100 on Google Lighthouse. It took a lot of work, but the clients are happy now.
Where React doesn't do well is with lots of DOM elements. In another project I created a complex web application that had about 3000 div elements with drag-and-drop interface and all kinds of stuff going on. Well React couldn't handle it. The browser started crashing due to memory issues if the page was open longer than 20 minutes or so, it slowed to a crawl and eventually froze. I ended up switching that one component to a canvas based solution (Konva) and it solved the problem completely. I still use React for all the other simple UI stuff, but I learned my lesson about what React is really good at and what it's not.