According to WildOxStudios, 4.27.2 would have been using PhysX despite having the Chaos plugins enabled, unless I had installed the “4.27-Chaos” build in the Launcher (which I did not). So I guess PhysX really is the reason UE4 has accurate framerate-independent physics. I hope this will eventually improve in UE5 (I have not tested 5.6.0 yet).
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