Really short question really, I heard that there was a way to select what server to use with online play and for the life of me I cannot figure out how. Me and a few friends wanted to try playing online on a 300mbps internet connection. Still after creating a room we ended up with really bad ping and high input lag. I feel sorta stupid for asking but hey help would be great :O

I think the problem comes from the lack of servers in other places.

Not quite the answer to your question specifically, but still related to the lag issues -
Sometimes graphic settings can affect online performance (though if both players have good enough computers, this isn't much of a problem, if at all), so framerate issues may also contribute to online lag
I believe Fullscreen Quality (if you play fullscreen, of course), Ambient Lighting and Weather are some of the settings that most affect framerates (these can be seen in "Advanced Settings" at the quality options menu)

(Of course, if your computer is perfectly fine with graphics, there's no much need to tweak these settings)

I see, although I'm playing on a ninth gen core i7 system and My Friends both on like ryzen 7 2700. Though sometimes I do face random fps drops which is really weird seeing as the game is entirely CPU based

both those cpu's should be doing ssf2 at the cap 30fps, it's a given. online is determined by both players specs and connections, fps drops or stuttering is usually a connection issue.

overall this game offline is optimized very smoothly, and is surprisingly good online if you mind the distance. tested on 8600k, 8750h and r5 2600. In 0.9b it would even do 30fps on my stock FX-6300(bad cpu with monster overclock)