It's a little high. But you have options. There's a lot of settings that honestly do not need to be set on Ultra. Very high looks almost identical, even medium will do for many things like clouds, shadows etc.
Ultra means there's 1000 different colors of mud on your tires, with every little detail shadowed. Medium means less shadows and only 100 color variations. You can't see the difference, but it's a massive drain on the gpu to set those differences 60+ times a second.
If you even bother to notice anything more than a blurb of mud in the first place.
And that doesn't take into consideration DLSS, physX and ray tracing on a game that may or may not benefit from such usage, but is rendered by the gpu anyways. Maybe a lot of extra work for little or no gain visually.
More work = higher temps. Customize the graphics settings to your personal tastes and wants. Just setting Ultra or Extreme often does nothing but jack temps up beyond comfortable.