If you're experiencing lag with the color overlay and the "AMD Experience Alt+R" feature when alt-tabbing out of a game, there are a few things you can try to fix the issue:
Update your drivers: Make sure you have the latest drivers for your RX 5700 graphics card installed. You can download them from the AMD website.
Disable Radeon Overlay: Try disabling the Radeon Overlay in the Radeon Software settings. To do this, open the Radeon Software, go to the "General" tab, and toggle off the "In-Game Overlay" setting.
Adjust settings: Try adjusting the settings in the Radeon Software to see if it improves the performance. You can try turning off features like anti-aliasing, vertical sync, or lowering the resolution scale to see if it makes a difference.
Switch to Windowed Mode: Try switching your game to Windowed mode instead of Fullscreen mode. This can help reduce the lag when alt-tabbing out of the game.