Why is framerate so much lower with a packaged build?

So what I noticed is that when I had Smooth Framerate on, I got lower than the editor (60-62fps in game)
I’m thinking maybe because the Max Smooth Framerate was set to that specific number (62fps, see attached image).
2024-05-10 12_40_30-Window

I turned Smooth Framerate off and immediately the packaged game fps shot up to the expected framerate
2024-05-10 12_40_52-Window

So I guess this is really dependent on case to case if you have Smooth Framerate on/off and what settings you assign to that setting

(I’m using the First Person Template btw)