Not sure if the keylogger part is true, but this is the reason why I don't buy Denuvo secured games and I suggest other players in the future quit buying them as well.
Borderlands is a great series, I own 1 & 2 on Steam, but I cancelled Borderlands 3 due to Denuvo, and it's currently being said that it uses "Virtual Machine Code" including JVM which is the cause of performance issues especially if a PC or users computer is outdated, or already under load from other processes / tasks.
While the game itself maybe great I wouldn't even rate this game 1 star for pulling this type of stuff on consumers because it's just down right game-breaking.
https://www.youtube.com/watch?v=KRwXN4-vFqA
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I Generally run my games in Max Settings, but I hear it's really awful from many people .
Open the Windows Task Manager and look at the Networking tab. This shows all network traffic in and out of your computer. Easiest way to open it is to right click on the Windows Task bar. A 2 mb upload connection refers to an outgoing connection from your computer to elsewhere of 2 mega bits per second. The networking tab does not show individual sources, just the total amount of incoming and outgoing traffic. To get that information you have to use the Resource Monitor button on the task manager's Performance tab.
It also applies to input via keyboard, mouse, gamepads. Hence the input lag issues that games suffer from that are more 'noticeable' sub 60 fps etc.