Background FPS Cap affecting all applications on G-SYNC monitor

When I have Background FPS Cap enabled in-game and I alt-tab to my browser, my browser becomes very choppy. It appears the frame limit is being applied to the monitor, not the game. Applications on my second monitor are unaffected.

This behavior happens under the following circumstances:
1. G-SYNC must be enabled on monitor. Either full-screen mode or windowed and fullscreen mode. Both are affected.
2. Display Mode must be set to Windowed Fullscreen. Windowed and Fullscreen are unaffected.
3. Background FPS Cap must be enabled. The issue is most prominent when set to 1 FPS. When set to 165 FPS the effect is less noticeable.

I have tested all renderers and all VSync modes. They are all affected. The only way to make my background apps smooth is to disable G-SYNC, change Display Mode, or disable Background FPS Cap. I'd rather not do any of these! Please take a look and let me know if you need more details. Thanks!