Do you host it yourself? What issues are you experiencing? Why do you think this'll help?

Not having issues yet as we are on a fresh world. but last time as we built so much and changed the land there was a few desync issues. i think being able to change this would indeed help as i have very fast 1gb internet on a dedicated box at home.

lodbias [0-5] – Set draw distance for server.

This is a command for the server that may help. Howto use here:
https://www.ginx.tv/en/valheim/all-valheim-server-admin-commands-how-to-use

Also it is early access so its not abnormal to have issues:
https://dathost.net/blog/2021/03/18/valheim-common-performance-issues-and-solutions/

Old but should still apply.
https://www.reddit.com/r/valheim/comments/lkea78/valheim_dedicated_server_lag/gnooncb/