Yes, that's really strange. It should set to "solved" when the update is available IHMO.
Is there any time frame for the fix? it just worked fine on Quest 2...
Quest 3: No 120 Hz Option
Hey boboweb spyro , the reason why this was set to SOLVED was due to the fact that this is looking at the thread (issue is registered and escalated to the developer team), not the issue itself, as this will be fixed with the next version of the app as the devs are already working on it!
As for the timeframe, again, I expect it soon however, no exact ETA has been given, unfortunately. 
Hope this clarifies it!
This still isn't working on the October 20th update 13.12.1.3
Can confirm, is still broken. No 120 Hz option.
6 days later
spyro Hi there, any updates?
It sounds like fixing this issue requires updating the Oculus SDK, which will be part of upcoming releases. I don't have an exact ETA, so we ask for you patience for a little bit longer while the team works on it! 
8 days later
- Edited
DeoVR_Bran
So, DeoVR was internally just using an outdated SDK even after the Quest 3 launch? Hmm, hope that this won't take ages, this feature is broken now for more one and a half months.
Thank you anyway, really looking forward to the fix.
And again, it really gives a wrong impression to set this issue to "solved" just because the devs know, that this problem exists. "Confirmed" or even "in-progress" would be closer to reality..
- Edited
Yeah it's really lame how you can't do PCVR with 120Hz on the Quest 3 but on the Quest 2 you can, disappointed. Hope the devs add the option soon
4 days later
Just found a way to enable 120Hz on quest standalone version of DeoVR . QuestGamesOptimizer works fine on Quest 3 and DeoVR . You can enable 120Hz and to increase the render resolution too .
5 days later
qaruk do you notice any difference between deoVR alone (72 or 90 hz) vs deoVR + VD at 120hz? I mean, does it worth buying VD just for that?
thanks!!
The short answer for me is Yes ! Especially if you have more powerful GPU like RTX 3060 and above .
On PC with more powerful GPU you can always get more fps and more smooth playback . If you set VD to 200mbit AV1 or 500mbit h264 encoding you cant really notice any compression artefacts as most of the VR180 vids are sub 100mbit bitrate . On VD you can choose to increase color vibrance and contrast . But the most important is that you can upscale a lot the original render resolution at Godlike or Ultra mods , and set over 200% Super Sampling in SteamVR settings . This makes the vids looks really better . The sharpness correction doesnt make your fps drops in half too . You can enable Snapdragon Game super Resolution. But the most important of all is that you can set 120Hz combined with SSW (Synchronous Spacewarp) and this really makes the 60fps vids looks noticeably smoother - feels very close to real 120fps ... And this is UNIQUE feature for VD and PC VR ... Once you get used to it thats smoothness of SSW and then back to standalone headset video play i am always got the feeling the playback is little choppy ... But i cant explain it so good - everyone have to try it for himself and to judge ! For me personally this is the best possible way so far even standalone DeoVR version tuned with QuestGamesOptimizer become close already ! As a bonus you get longer battery times when you use PC DeoVR .
boboweb hi again! I just tried both, VD and QGO with DeoVR to set 120hz and improve image quality, I clearly see a big improvement with VD but not with QGO, I mean, at least in terms of smoothness VD is awesome but I do not see the difference with QGO at 120hz + DeoVR, maybe VD is superior because of that option that you mentioned, SSW?
and I have another question, are you able to watch passthrough videos with alpha channel on VD + DeoVR? I can only watch them properly using DeoVR alone. If I use VD + DeoVR with passthrough videos I just get the black screen and the alpha channel does nothing
- Edited
Hi qaruk , yes you are right in terms of smoothness VD with enabled SSW and 120Hz is the best . 120hz at standalone wont bring you any better smoothness actually as the videos that you watch are just 60fps .If you try some 5K 120fps vids then you will notice better smoothness .The good thing of SSW is that makes 60fps vids looks like 120.
Otherwise QGO can brings you better picture quality in terms of resolution and details even at 90hz or 72hz.
About the PT vids - unfortunately currently there is no way for proper watching PT vids for PCVR . There is an option in VD that allows you to enable PT (at 90Hz or lower). You can try it and try to tune different PT color values in VD while you watching some PT vid on DeoVR but i never could get a proper results. So for now standalone DeoVR still the best option for PT alpha vids and HereSphere (standalone) for the Czech ARs because in DeoVR czechAR vids get some very annoying greenish tint . Hope DeoVR will fix this asap ...