The firmware update to enable Dolby Vision gaming at 4K 120Hz on the LG CX and GX 2020 OLED TVs will roll out globally starting next week.
Update: The firmware is now available for manual download via LG's support pages in the US (ver 04.30.10), the UK (ver 04.30.10), and elsewhere. The new firmware also fixes the VRR counter for HDMI 2.1 input in the info box that can be enabled by pressing the green button multiple times.
4K120 Dolby Vision gaming
LG brought Dolby Vision 4K 120Hz gaming support to its 2021 OLED models (C1 and G1) in June. Starting next week, owners of LG CX, GX, and WX OLED TVs will also be able to enjoy Dolby Vision at 120Hz – up from a maximum of 60Hz previously.

Firmware version 04.30.10 has already reached some owners in South Korea (link to 04.30.10 on LG Korea's support page) and will be released globally next week, LG confirmed to FlatpanelsHD.

It is a staggered rollout so if you are not seeing from the TV's update menu check LG's support pages from where it can soon be downloaded manually. LG expects the firmware to be available in all regions by the end of October.

Update: The firmware is now available for manual download via LG's support pages in the US (ver 04.30.10), the UK (ver 04.30.10), and elsewhere.


 Ori and the Will of the Wisps looks stunning in 4K Dolby Vision and 120fps

Xbox Series X recently gained support for Dolby Vision gaming at up to 4K 120fps. LG is the first TV brand to support Dolby Vision beyond 4K 60Hz.

 Also read: No 120Hz Dolby Vision gaming on Xbox? LG, Sony & Panasonic respond

Only a handful of Xbox games support 120fps output at this time but Dolby Vision (and HDR10) on LG 2020 OLED TVs also works together with VRR (and FreeSync), which reduces input lag and stutter for a faster and smoother game experience.

LG is still "looking into" the possibility of supporting Dolby Vision at 120Hz on other models including 2019 OLED models such as C9.

LG 2020 OLED TVs getting 4K 120Hz Dolby Vision with 04.30.10
 FlatpanelsHD