[Plasma 5.27.4] Mouse is laggy and lacks precision on Wayland compared to X11

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On my two laptops (intel graphics), mouse movements are laggy and slow and suffers from lack of precision compared to how it performs on X11.

Operating System: Manjaro Linux 
KDE Plasma Version: 5.27.4
KDE Frameworks Version: 5.104.0
Qt Version: 5.15.8
Kernel Version: 6.2.12-1-MANJARO (64-bit)
Graphics Platform: Wayland