@Mike Knoll
Thank you for reaching out.
I understand you are getting latency spikes for your Azure VPN VPNGW1 SKU. There is a similar issue reported regarding this issue with VPNGW1 SKU here -> https://github.com/MicrosoftDocs/azure-docs/issues/116873
If possible, can you change the SKU and see if that fixes the issue?
Update (01/04): The product team is currently working on this issue and I will post an update here as soon we have the root cause analyses. Meanwhile, if you are facing this latency spike for VPNGW1 SKU the work around is to upgrade to a higher SKU.
Please let me know if it is not possible for you to change the SKU. Thank you!