Formik with Material Ui Re-Renders like crazy

This is my first post therefore apologies in advanced.

Hello there, i was working on a company project using Material Ui v5 with Formik@2.2.9 and i was using the Formik's official example for Material-Ui integration as a baseline for my code.

here are my observations:

1. Even on Official Example: every keystroke on Text Field Trigger re-render 4 Time (FOR EACH WORD)
2. Re-render like these was causing significant slowdowns on Firefox.
3. Chrome was also affected but Chrome was hanging less.
4. i triple checked my code, it was fine.

here is a image of the re-rendering result

as you can see i only added "1" to the email field and it triggered 4 re-renders

How to reproduce
go to official example place a console log to detect re-render or you can try yourself from link to my fork

let me know if it is really a issue from formik or its something else? and How can i improve the performance?