I haven't fucked around with tearing and ultra-low latency, but I have bounced around a few wayland gaming builds and I've gotta say Gnome has been the most consistently stable DE of the bunch.
Others may be prettier, more easily customized, or have single-digit frame rate gains in the right settings, but they all suffered from more crashes, stuttering, or other bugs across the board.
3% higher frame rate is meaningless if the game freezes for 0.25s when it counts.
I can't promise it'll solve your problems, but I can recommend PikaOS+Gnome if youre looking for a rock solid gaming distro. Otherwise youre looking at starting down the Arch path and spending months to tweak it to perfection only to have an update roll back those tweaks.