Yes but like all non-default settings, a large portion of the player base doesn't have it enabled. Games have to be designed for a large market, not just high end OLED buyers.

Even then, most VA/IPS/LED displays have something more like 20ms of latency in game mode due to slow LCD refresh rates. Controllers are also randomly delayed by 2.4GHz interference.

This 8bitdo Pro 2 on my desk has 18ms latency all the time. It actually kind of sucks and it's one of the faster wireless controllers.

The Dual Shock 5(wired) and Dual Shock 4(wireless) were some of the best controller where it comes to latency. https://rpubs.com/misteraddons/inputlatency

Edit:// those 8bitdo controllers are pretty terrible looking at that list, Wow.

Yes. I get about 5 ms latency on my 2024 LG OLED (a bit more at 120 Hz, a bit less at 144 Hz).

But there are other sources of latency that stack.