Reproduction steps:
1. Open the “ReproProject“ project
2. Open the “Assets/Scenes/SampleScene“ Scene
3. Enter Play Mode
4. Open the Rendering Statistics window by clicking the “Stats“ button in the top right corner of the Game view
5. Observe the Rendering Statistics window

Expected result: The FPS is 45
Actual result: The FPS is higher than 45

Reproducible with: 2021.3.34f1, 2022.3.18f1, 2023.2.6f1, 2023.3.0b4

Reproducible on: Windows 11 Pro (22H2)
Not reproducible on: No other environment tested

The mentioned project seems to have Game Mode vsync on.

Please note that Application.targetFrameRate only works when vSync off according to the documentation.
{quote}Desktop and Web: If QualitySettings.vSyncCount is set to 0, then Application.targetFrameRate chooses a target frame rate for the game. If vSyncCount != 0, then targetFrameRate is ignored.
{quote}
And vSync in GameView need to be disabled with the UI in Game view Control Bar.

However, the GameView FPS is still capped by targetFrameRate even if the vSync is on. This is inconsistent with the documentation. A fix will be submitted to address this.