As of 26th June 2020, all runs should be capped to 144 FPS or lower. Framerate in this game affects way too many things and it would be unfair as people with very good PCs would be able to utilize its advantages.
You don't have to show your FPS during the run, however, it's recommended to show it via Steam, RTSS or Dxtory. If your QTEs are instant or there are any other glitches that require high FPS, your run would be invalidated.
Lowering your framerate (via game, RTSS or Dxtory) during the run is allowed to be able to simulate a weaker PC, which is on a significant advantage in some situations.
As you may know, it's no longer possible to buy this game on Steam and you can only get the Director's Cut version. Everyone who's bought the game before the release of that version got the Director's Cut version for free and will be still able to download the older version.
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