Many modern games have a separate physics frame rate to avoid that issue, but tend to always have the physics process a fixed amount of ‘time’ regardless of how long the frame takes so that the physics is more consistent. If that lags, the whole game will pretty much play in slow motion.
Some games tie physics to frame rate, which is exploitable for speed runs. Iirc this game has a few tricks that would be affected
Many modern games have a separate physics frame rate to avoid that issue, but tend to always have the physics process a fixed amount of ‘time’ regardless of how long the frame takes so that the physics is more consistent. If that lags, the whole game will pretty much play in slow motion.