I downloaded the user manual of the samsung and it's not super clear about it but it should support at least 120Hz on HDMI 1.4 based on hdmi bandwiths and what's wrote on the manual:
DisplayPort Ver
Select your Displayport.
― Incorrect settings may cause the screen to go blank. If this occurs, check the device specifications.
― If the product (when set to HDMI1, HDMI2 or DisplayPort) is displaying the message Check the cable connection and the settings of the source device. press the JOG button to display the function-button screen and then select → System → DisplayPort Ver. → 1.1 or 1.2↑.
― If setting the DisplayPort Ver. to 1.1, for the bandwidth limitation of the DisplayPort 1.1 protocol, the actual maximum output refreshing rate of the graphics cards cannot achieve the level of 100 Hz/120 Hz/144 Hz.
HDMI Mode Select the HDMI mode to use.
― The supportable device and resolution may differ depending on its version.
― When the version is changed, the screen may blink.
― If you set the HDMI Mode to 1.4, some high resolutions may not be supported because of bandwidth limitation of the HDMI 1.4 protocol.
― When the setting is not appropriate, a blank screen may appear. In this case, check the specifications of the device.
, it's completely fine for me if it runs at 120Hz. The doubt mostly stand on the response time and color accuracy.