After deploying ~3000 VDAs with the session recording agent present we can see w3wp.exe consistently consuming 20% - 40% of the CPU on the session recording server.

By default the session recording agent will poll every 10 seconds which can impart significant load on the session recording server when there are a large number of VDAs in the site.
Scalability considerations in session recording:
https://docs.citrix.com/en-us/session-recording/current-release/get-started/scalability-considerations.html
Add the following registry key to the VDA to reduce the polling interval:
Path: HKLM/SOFTWARE/Citrix/SmartAuditor/Agent
Name: BrokerPollIntervalInSeconds
Value: 180
Session Recording Server experiences consistently high CPU usage caused by IIS, which persists even after increasing server resources and with minimal user load.
This is visible even if no session are being recorded.