Yeah it svcks without this feature especially early on the game which where I currently am. So far, I have had to run away from a bunch of raiders at the super duper mart and am trying to sneak them now and use bullet time. So that I am clear, I have to open FOSE and in there I will find the option to set a hot key for bullet time? Thank you for your advice.
No, if you have FOSE (which most people do), in-game there should be n item in your inventory for Bullet Time. If you have FOSE you can set an activation key. I set mine to X.