The frame rate is inconsistent and not maintaining a stable target FPS when using Application.targetFrameRate

Unity: Kernel

6.6.X

6.5.X

6.4.X

6.3.X

6.0.X

6.7.X

6000.7.0a2

How to reproduce:
1. Open the “PauseTest2022” project
2. Open the SampleScene
3. Enter Play Mode
4. Observe the FPS in the Game View

Expected result: The frame rate maintains a stable 30 FPS without fluctuations
Actual result: The frame rate is fluctuating rapidly between 29-30 FPS

Reproducible in: 2020.2.0a5, 2021.3.40f1, 2022.3.35f1, 6000.0.8f1
Not reproducible in: 2020.2.0a4

Reproducible on: Windows 10, Windows 11 (user’s)
Not reproducible on: No other environment tested

Notes: Also reproducible in Player