Help me improving my platform performence

I have a WordPress MultiSite network with woocommerce enabled, that allows users to build their online stores through the network, I got 1K+ registration, the platform is working fine most of the time except it lag 4 to 5 times a day, it is hosted on AWS EC2 and managed by Runcloud

Need someone who can understand the WP MultiSite and Woocommerce and EC2 instance based hosting, familiar with dealing with production websites