Yep, Oofta has the right of it.
Sharpshooter is the one feat I may house rule when I next run 5e. Long ranged attacks have a lot of benefits in 5e already, but that feat just breaks down all the limitations of ranged attacks – no long range penalty, no cover penalty, and a bunch more damage at the cost of what effectively becomes -3 to attack (as most PCs I've seen who take Sharpshooter also take the Archery fighting style for +2 to hit with ranged weapons).
A lot of people propose a universal fix to Great Weapon Master and Sharpshooter (minus proficiency bonus to attack for x2 proficiency bonus to damage). But for me that misses the mark. Yeah, it's a lot of damage at levels 1 and 2, but over the course of play and leveling up, Sharpshooter becomes more disruptive not because of the damage alone but because of how the damage and bypassing cover/ranged penalties stack.
What I'm considering is: You can only use one of the Sharpshooter feat’s benefits on each attack, chosen before you roll to hit. For example, if you are aiming to bypass cover, you cannot deal extra damage or ignore range penalties in the same shot. I think this preserves what's cool about the feat without making ranged attack builds as dominant, and maps to the narrative better: "I'm firing in a high arc to clear the field and hit the back of the hobgoblin army (Long Shot)" vs "I'm taking careful aim to thread my arrow between the gap in the trees to hit the troll (Bypass 1/2 or 3/4 Cover)" vs "I'm drawing back with all my strength on the bowstring and unleashing my shot (Sacrifice Attack for Damage)."