SUMMARY
The interface elements, such as the app launcher, GUI elements on the panel (like notifications, audio volume, or network) and  the overview animation lack smooth transitions that match the monitor's refresh rate. For example, while the monitor runs at 165Hz, the animations are limited to 60 frames per second. 
This issue occurs exclusively on Wayland - on X11, everything runs smoothly.

STEPS TO REPRODUCE
1. Launch panel interface (like application launcher) / Run overview
2. Use GUI to scroll between elements (like 'Applications' and 'Places' in application launcher OR 'Devices' and 'Applications' in audio volume panel). / Use the overview to switch between virtual desktops and move windows across them.

OBSERVED RESULT
GUI animations are capped to 60Hz.
I noticed that moving windows around in the overview is smooth, but the animations for entering, leaving, switching and transferring windows between virtual desktops are capped.

EXPECTED RESULT
GUI animations match monitor's refresh rate.

SOFTWARE/OS VERSIONS
Operating System: Manjaro Linux
KDE Plasma Version: 6.3.3
KDE Frameworks Version: 6.12.0
Qt Version: 6.8.2
Kernel Version: 6.6.83-1-MANJARO (64-bit)
Graphics Platform: Wayland
Processors: 12 × AMD Ryzen 5 3600 6-Core Processor
Memory: 15.5 GB of RAM
Graphics Processor: NVIDIA GeForce GTX 1070


ADDITIONAL INFORMATION
Fully updated manjaro system.
I use proprietary NVIDIA drivers v. 570.133.07