So DF's "Frankenstein's Console PC" with hardware similar to PS5 + Xbox Series X can handle 2560x1440 gameplay (medium settings) "in the high 50s" and the most demanding cutscenes "in the 40s".
Therefore a 120Hz/40fps performance mode 2560x1440 (medium settings) should be no problem on Xbox Series X, maybe even a 120Hz/40fps performance mode 2560x1440 with medium-high settings.