This ONLY occurs while in FULL SCREEN mode. Resolution doesn't matter.
While in full screen mode with VSync on, the FPS should be capped to your monitor's resolution rate, right? Apparently not.
Having the Game menu (U) open in-game counts as "VSync" regardless if that option's checked or not.
Outside of Full screen this works as intended.
This is NOT a Windows-specific bug - that was a completely different beast, which was squashed with
KB4054517. This is an exclusive bug to this game.
/edit: One had a locked 60fps, one did not. We'll let you guess which was what.
https://imgur.com/a/61Qud