Godot 4.2.2 lagging with V-sync enabled

For the last few weeks, Godot 4.2.2 has been incredibly laggy. The only way to resolve it to disable v-sync mode in the Project Settings > Display > Window
It’s there on both forward+ and mobile.

Using latest Nvidia drivers.

Is this a bug, or are there any additional steps. This occurs every time a new project is created.
Thanks.

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