A company is deploying a new application on Google Cloud Platform (GCP) with strict performance requirements. As a DevOps Engineer, you are asked to optimize the service performance and debug application code. You have set up Cloud Trace, Logging, and Debugger to monitor the application. The performance data indicates that the application is experiencing latency issues during certain API calls. You need to identify the root cause of these latency issues and implement a solution. Which of the following options should you consider to resolve this issue?