See my post. It doesn't seem to match the other results people are getting. I hesitate to suggest this since HUB is a pretty thorough and careful site, but the only notes I see on quality settings on that video are "Epic Quality"... are we sure that he doesn't have Nanite/VSM/Lumen on (and/or other DX12-exclusive settings that default on on Epic...) in DX12? [Edit] I guess he tests that separately in the next test in theory, but I still wonder if this is actually apples to apples. There is no real reason for performance results to differ so much if the settings were the same, *especially* when GPU bound.
Just checked super quickly on my machine in the current season and DX12 is a bit faster than DX11 on my machine (4090, 1440p). To the limits of my ability to A/B test I'd call them functionally similar again, although ironically the shader stutter in DX11 was really bad for the first minute or so. When you look at the ground performance is similar. When you look off into the distance performance on DX12 is a bit better (but we're talking in the range of 3.5ms vs 3.8ms per frame which look impressive in % graphs but aren't really a huge difference in reality). What do you get on your machine?
So yeah I dunno, any number of variables could be different between my test, the youtube tests and the HUB test. I'm still leaning on something was probably a bit wonky in the HUB test, but as I said in my other post... there's a zillion variables and I'd take literally any single result with a huge grain of salt.