How to run Minecraft at 32 chunk render distance without FPS problems?

The game runs fine at around 16 chunks render distance or less, but at 32 chunks I'm getting FPS drops below 50.

I've tried allocating up to 8GB of RAM to the game on startup and it has made no difference and according to "F3" diagnostics screen doesn't use over 3GB anyways.

I'm wanting to Know if there's a fix for this as my computer should have No issues running a game like this at any setting.

PC Specs:
Intel Core i7 5960x @ 4.2Ghz
16GB DRR4-2666Mhz RAM
ASUS Strix NVidia GTX 970
Resolution: 1920x1080@144hz

Have you tried installing Optifine and lowering your graphics settings and disabling smooth lighting?