Earlier quoted context omitted.
I have perf issues with emacs-pgtk on a 4k screen on Wayland with Niri in both Emacs as a client and not. The issues appear with typing or scolling, the delay and lag become noticeable. For me the issue is only unbearable when running fractional scaling, for some reason. I'm going to try the branch mentioned in the sibling comment, though.
I have almost the exact same setup as you and even have strange behavior with fractional scrolling. I'm on NixOS so the setup is even inspectable: https://codeberg.org/arik/dotfiles After resetting the scale from 1.2 to 1.0 through 'niri msg output HDMI-A-2 scale 1' I actually noticed a performance increase! I will have to troubleshoot this, although you may have stumbled on a great lead toward the root cause.
For XWayland apps Niri just renders at the native resolution (ignoring scaling), meaning a decent workaround is to use the Lucid/non-pgtk version and manually scaling up the UI. Unfortunately I go from scaling at 1.25 on my screen to 1.00 on my external monitors, which means I can't use the non-Wayland versions without messing up the font size on either my desktop and monitor.
[1] https://mail.gnu.org/archive/html/bug-gnu-emacs/2024-09/msg0...