Well we already have found the issue then. The VRperfkit doesnt work if VaM gets launched with Steam/SteamVR. Can you try starting VaM from the folder directly? Better shut down steam aswell, try to get VaM to start without SteamVR.
With steam you have to use Fholger's older tool, OpenFSR. For what we use it for it's got 99% of the same features as the new tool. You'll lose fixed foveated rendering, but keep the scaling. It gives a huge performance boost.
Link to his older tool
GitHub - fholger/openvr_fsr: Add Image Upscaling via AMD FidelityFX SuperResolution or NVIDIA Image Scaling to SteamVR games
Add Image Upscaling via AMD FidelityFX SuperResolution or NVIDIA Image Scaling to SteamVR games - fholger/openvr_fsr
github.com