ID 511271 - Moving the camera during Live Render causes a drop in performance

Problem summary
When working with a large number of scenegraph locations, moving the Camera during a Live Render will result in a laggy experience.
 
Customer reported version
katana.4.5v3
 
Customer reported platform
n_a_linux
 
Steps to reproduce

1. Load the attached Katana project (a scene with 1,000 primitive spheres, with the same material assigned, a camera, and a light).
    
2. Add /root and its children to the Live Render Updates Working Set.
    
3. Start a Live Render from the RenderSettings node.
    
4. Move/rotate the camera in the Viewer tab.

 
Expected behaviour
Moving the camera feels the same as when not performing a Live Render.
 
Actual behaviour
Moving the camera results in a laggy experience.

 
Workaround
Unknown.
 
Reproduced by support
This bug has been reproduced in:
Katana 5.0v3 - Windows 10
Katana 5.0v1 - Windows 10
Katana 4.5v3 - Windows 10
Katana 4.5v1 - Windows 10
 
Unable to reproduce bug in:
Katana 4.0v8 - Windows 10
 
Earliest version tested
Katana 4.0v8 - This issue doesn't appear in this version and has regressed