I'd suspect you have both versions implemented and it will be up to the player to use whatever works for him.
Implementation will be the main problem.
Physics shouldn't matter, the game logic still ticks at the basic frame rate, meaning physics is still calculated at 60fps even it the game shows 240fps. That extra fps is just extra smoothness, nothing more.
Nvidia has it in its own OSD from the app. It doesn't show in all the games, but I works in CB77, for instance. And no, 50ms isn't that much. You can have it with around 60fps or more, especially with v sync.
Using DLDSR, 2880x1620, DLSS Balanced and the latency can jump around 40-60ms +/- at 180-200fps with raster.
Going down to "native" 1080p with same settings, fps around 220 +/-, latency goes to 12-14 ms.
So, if you add effects or techniques, latency will increase regardless of FPS. And while you'll feel the difference between 13ms +/- to 40 ms (probably, but not guaranteed), for most it wouldn't matter.
That, of course, assuming Nvidia's software offers relatively good latency numbers.