It seems like the driver update is incorrectly identifying your Radeon 530M as an R7 340M, which is causing performance issues. To fix this:
1. **Uninstall Current Driver**: Use the "Device Manager" to completely uninstall the current GPU driver.
2. **Install Manufacturer’s Driver**: Go back to your laptop manufacturer’s website and download the correct driver for the Radeon 530M.
3. **Install Manually**: Install this driver manually by selecting the "Browse my computer for drivers" option in Device Manager, pointing it to the downloaded driver.
This should prevent the misidentification and help restore proper performance.