The Out Bounds Range setting controlled at the global level is the point at which bullets traveling off screen become flagged as “out of bounds” and then become either re-pooled or destroyed.
The best range for performance would be at or near the very edge of the screen, in which case Out Bounds Range would be set to a value around 0.
However, because screens can sometimes move or patterns can exit the screen temporarily and then come back into the screen, you may want to experiment with increasing this value to strike a balance between peak performance and fluid gameplay.