Facebook originally launched Oculus Quest 2 with a default 72Hz refresh rate and experimental support for 90Hz. A faster refresh rate makes the virtual world inside the headset smoother, more comfortable, and more immersive. The headset’s display is ostensibly already capable of a 120Hz refresh rate but running it that fast raises concern about performance and battery life. To take full advantage of the higher refresh rate, applications themselves need to be able to run at 120 FPS especially on a mobile chipset.
Facebook now likely has a clearer picture of the viability of a 120Hz refresh rate. As with 90Hz support, Facebook would likely roll out 120Hz support on Quest 2 through a software update and would make it optional for developers to choose between 72Hz, 90Hz, and 120Hz, depending upon what their application can manage. As for Oculus Link, which allows Quest to play PC VR games, 120Hz support would be a welcome addition for those with PC hardware capable of running high-end VR games at that rate.
More information:
https://www.roadtovr.com/facebook-hints-oculus-quest-2-120hz-refresh-rate/