Why does option recompile make this query run ~10 times faster (even after sp_updatestats)

Question

I have a relatively simple query, I have an event table and I want to query all records with a date within the last 12 to next 12 hours. The table has ~1 million rows.

When I run the query with option (recompile) it takes around 25ms, without option (recompile) it takes around 250ms. I have run sp_updatestats and it did not make a difference.

Declare
@EventDateTimeHoursBack int = 12,
@EventDateTimeHoursForward int = 12

Declare
    @BackTime datetime = DATEADD(HOUR, -@EventDateTimeHoursBack, GETUTCDATE()),
    @ForwardTime datetime = DATEADD(HOUR, @EventDateTimeHoursForward, GETUTCDATE())

Select
        *
    From
        dbo.Event 
    Where
        EventDateUtc >= @BackTime
        and EventDateUtc <= @ForwardTime
    Option (Recompile)

This is the query plan with option recompile

This is the query plan without option recompile