[MKANET]

@oldpoem, you're a genius! Thanks so much for figuring this mystery out. I was starting to lose hope. All I had to do was simply disable madVR's below setting (under the madVR's tray icon settings):

devices\Generic PnP Monitor\Display modes\switch to matching display mode...

"Enable presence several frames in advance" was already enabled on my settings.

The only remaining issue... when I hit the "back" button to Kodi's Main Menu (during video playback), Kodi's Menu is displayed on the top/left corner of Kodi's display area (shown below). Is this a known issue? I haven't seen anyone mention this before.

But after messing with madVR settings I think I managed to get a workaround on this matter. And after few tests it works fine now. Enable presence several frames in advance / disable madVR refresh rate change and let Kodi handle it fix this for me. At least I hope so.