As pointed out elsewhere in the forum, the physics behave strangely on high framerate.
Before I venture into finding my own solution, I am curious if there's a definitive "best" way to limit the framerate so I can experience the game physics in the way that they were intended.

One of the best ways to limit frame rate is through Nvidia Inspector. There's a section for limiting the frame rate or forcing a specific frame rate.

I'm using an AMD card so that won't work.

You can do that from your Radeon driver settings. The option is called "Frame Rate Target Control".

Other pieces of software that feature a frame limiter are MSI Afterburner and Radeonpro.