Yes, but all it entails is setting an output mode with a higher refresh rate than the default one. I am using wayland, though I haven't found a way to set a mode that isn't reported by the monitor itself.
CachyOS is great, it's arch based with packages compiled for new CPUs and various optimizations, and a gui installer. Adobe support is hit or miss, but crossover claims to support it. As for drivers, I've been running proprietary ones with a 4070 super on wayland and it just works