FPS capped at 60?

I'm playing the game with just the recommended settings, my gig is

- GPU RTX 4070ti
- RAM 32 GB DDR5 5600 MHz
- Processor Ryzen 7 7700X

But still when I'm within the graphics option, the top right graph that appears shows 55-56 fps constantly. I've tried tunning everything down, messing with every setting possible, and the FPS just stay there.

Am I interpreting this wrongly or is the FPS hard capped at 60~?

I don't have the Foreground FPS capped and my target framerate is set to 120, just in case. But I've tried messing with every setting.

1.check you vsync settings in nvidia panel
2. check poe2 graphic option at the bottom make sure it’s not capped

Just confirming, I had to update my Chipset driver. Then the problem was solved finally.

(tried all other stuff like vsync, fps limit, power settings, etc, before)