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

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