To clarify - In many cases you are actually running your physics or game loop at a different rate from the render loop. For instance, in CS:GO you can have a frame rate of well beyond 300, but the game loop (physics/ai/net/logic/etc.) is ticking at 60 (by default) due to the client-server architecture. This type of non-synchronous engine architecture is very complex to build reliably, so unless there is a hard requirement for it (e.g. client-server multiplayer model w/ advanced latency compensation) you will usually find a simpler synchronous approach used unless the underlying engine comes with the async architecture OOTB (UE4).

Some additional reading on the topic:

https://developer.valvesoftware.com/wiki/Source_Multiplayer_...

https://blog.forrestthewoods.com/synchronous-rts-engines-and...

https://gafferongames.com/post/fix_your_timestep/