MX Master 3S terrible cursor tracking on Mac?

Just bought this mouse, is anyone else experiencing cursor tracking that feels broken on Mac (M1)? (both using Bluetooth or USB receiver). I saw a few other threads mentioning this, but most are several months old.

It's not doing huge skips across the screen, but rather constant micro-skips which make the mouse feel terrible and makes it difficult to actually aim properly. Coming from a wired mouse, this is especially noticeable. It feels like going from a smooth, constant 60fps to a fluctuating 30fps.