The highest refresh rate in my GNOME on Wayland in Fedora 34 (or GNOME on Wayland in Ubuntu) is 60.xx Hz, whereas it is 120.xx Hz in GNOME on Xorg. Why is this, and is there any way to enable the highest (120 Hz) refresh rate on Wayland or to at least increase it? The file ~/.config/monitors.xml already contains the 120.xx Hz rate from Xorg.
There is a related question here.