TPS drops when reaching over 40 players

Hiya,

My SMP server is getting TPS drops when we come above 40-45 players online. I've already turned the render distance down to 7 along with following YouHaveTrouble's optimisation guide.

https://spark.lucko.me/yWJZczf4od
Would anyone be ever so kind and assist me in location what could be causing this? ❤️
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