Hi David,
could you tell us which process (or processes) use high CPU?
If such process is ossec-remoted you probably have overload. You should consider use more than one manager to distribute the load, depending on the agent configuration (i.e. if agents produce a large number of events).
On the other hand, if the process that uses a high CPU is ossec-analysisd, the most common issue is that Syscheck tables for FIM (stored in manager side) have grown too much. I recommend you to clean the Syscheck tables this way:
$ /var/ossec/bin/syscheck_control -u all
Hope it help.