In my experience, Vulkan delivers a pretty smooth experience, however when I changed to DirectX 11 out of curiosity I've found out that the mouse movement feels better and is a lot more instant, when compared to Vulkan, where the mouse feels floaty and as if I had VSync on.

However, whilst using DirectX 11 in fullscreen mode, I cannot Alt+Tab out of the game, only when I change to windowed mode, where the mouse feels floaty again because of... Windows shenanigans.

Both feels good, but if you prefer DirectX 11 either for the controls or for some other reason and you cannot Alt+Tab out of the game, this guide is for you.

Bring down the console with the ~ or 0 key (depending on your keyboard layout).
Type in the following 2 commands:

bind , "v_windowmode 0; restart"
bind . "v_windowmode 2; restart"

These bind commands to - in my case - the comma and period keys.
The former bind changes the application to windowed mode and restarts the renderer on a desired keystroke, allowing you to Alt+Tab, whilst the latter changes to fullscreen mode and restarts the renderer, eliminating any latency from using windowed mode.

You can bind these commands to any selected keyboard or gamepad key, I just gave you an example and what I'm using.

I hope this works out for those who have the same problem; I wish Nightdive would address this in a future update but if not, this should be a somewhat awkward but nonetheless functional solution.