Read more: Xbox One May 2018 update: All the expected changes
Xbox One picks up support for high refresh rates, among a variety of features under the Xbox May 2018 Update. Expanding upon the console's video capabilities, the feature promises smoother gameplay across supported titles.
To take advantage of 120Hz, you'll need an Xbox One X or Xbox One S running the Xbox May 2018 Update. This update is currently limited to a subset of users enrolled in the Xbox Insider Program, ahead of a wider release set for the coming weeks.