This is not entirely due to 100% CPU utilization; in fact, this is due to the fact that W3SVC is too busy with requests for working with performance counters - this may be due to processor or memory limitations. This prevents the performance counter from working on the W3SVC when it is busy.
When the situation calms down, performance counters will be collected and everything will be automatically resolved for you.
If you have this error, you should investigate it further (i.e., can your server handle the load it has).
According to the official documentation :
The event log message is informational regarding the status of the performance counter. This problem will be fixed by the system; you do not need to take any action.
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