My oculus works fine when booting up, but when I load into my Oculus Home I experience a lot of lag and latency issues. Not only that, but when I start up Steam VR, my Steam home has even more lag And when I open the Oculus menu inside the steam home, I get so much lag that steam crashes. If I start up a game like beat saber, the lag goes away, but then after a while of playing my tracking starts to go haywire. my POV ends up getting really thrown off but my hands are where they should be. After a little while of that, my headset goes black, but the live feed on my monitors stays and I can see the proper game. If this happens then I have to restart my whole computer to get the oculus running. I like to mod my games, so i figured it was probably an invalid plugin, so i when through my files and deleted all the mods I had that were connected to the VR system, but even that didn't work. I don't have any other friends who have stated that they are experiencing anything similar, so I don't know if this is on Oculus' part or not, so i would really appreciate any info someone could throw my way.
First off, what's the specs to your computer? It sounds like your specs aren't high enough. You have to confirm if you see blue banner stating you have a low system requirements when you start the Oculus application. If you don't see the blue banner then disregard what I've noted, just sounds like a low-spec computer to me.
My computer struggles to put enough power into VR games when streaming where I tend to get sensor issues of disconnecting, and such. My hands would get stuck in a pose, and then go back. Make sure computer can stay cool, among other basic computer needs.
Other than that, send a ticket to the Oculus guys.