Scenario – FFXIV
Vsync on: 99 FPS, 98, 100, 99, 96, 98, 99, 97, 99, etc. Micro stutters galore.
Vsync off: 200+ FPS, but unbearable tearing.
Same in both borderless and exclusive.

What is the…

Frequent frame drops with vsync.

Source: [H]ardOCP – Frequent frame drops with vsync.