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Xbox draws out three monitor features in particular: an HDMI 2.1 input for 4K at 120Hz, variable refresh rate to remove tearing, and auto low latency mode so the display drops into game mode on its own.
A Series X owner chasing 4K/120 needs a true HDMI 2.1 port and an Ultra High Speed cable, whereas a Series S owner is well served by a 1440p 120Hz screen, since that console does not render games in 4K.