This is the case on PS4 Pro and Series S as well, which only have a single mode, rather than Quality or Performance to choose from.
The only exception to that 60fps target is in the Quality mode replays on Series X and PS5, which now target 30fps rather than 60. That said, since these segments represent the TV presentation style, they weren’t of any consequence to gameplay. The only time I noticed a drop from that solid 60fps line was when the game shifts into realtime replays, inaugural segments, or video wipes, as these can cause short pauses that blend between them, and the video wipes all run at or around 30fps. All of these target and hit 60fps at all times during gameplay, though with the stop-start nature of the game, these segments are rarely that long. I’ll be looking at PlayStation 5, Xbox Series X, and Xbox Series S, as well as PS4 Pro as the representative for the previous-generation consoles.
