I'll try without -winxp and see if it just happened to get fixed right as i applied the change.

Found a fix on Reddit, If you put -winxp in your Dayz launch options in steam you wont have the issue. Sadly you also cannot Alt+Tab otherwise the client crashes right away. But I was able to play for a solid 2+ hours tonight after not being able to play for longer than 5min.

Also having the issue. Completely unplayable.

I finally starved to death. Please ignore help request!