Facebook Reality Labs Vice President Andrew Bosworth has recently confirmed in a Q&A session that the Oculus Quest 2 is likely to receive 120 Hz refresh rate support via an upcoming software update. The original Oculus Quest shipped with a 72 Hz refresh rate and when the Quest 2 was released with a better screen this refresh rate was kept for compatibility reasons. Facebook has now made 90 Hz the default refresh rate on the Quest 2 after a period of testing and it seems that this could soon be increased to 120 Hz with the main concerns remaining being performance and battery life. Developers would have the option to target 72, 90, or 120 Hz for their games and applications to run at. The 120 Hz refresh rate would be most noticeable when playing desktop VR games via Oculus Link with a computer capable of high-fidelity VR.

Source: Road To VR , Techpowerup