Insomniac Games has confirmed that Marvel's Spider-Man 2 will launch with a 40 frames per second mode in addition to the standard 30 and 60 modes.

The details:

According to Insomniac's Community and Marketing Director, James Stevenson, the game will include 30 and 60 FPS quality and performance modes, as well as a 40 FPS mode that allows for a much smoother experience on 120Hz displays without sacrificing too much visual quality.
Stevenson also stated that all three modes will include ray-tracing, which was echoed by tech director Mike Fitzgerald, who stated in an interview with IGN that the studio wants all players to experience the game's visuals as intended. "There's no mode of this game that has the ray tracing turned off, no need for it," Fitzgerald explained. "We've really figured out how to deliver what we feel like is the right Spider-Man picture and visuals and we want to make sure every player is seeing that."
40 FPS modes are becoming increasingly popular, with the PS5 versions of Horizon Forbidden West and Ratchet and Clank: Rift Apart both receiving the performance option in post-launch updates. Given that more players are purchasing high-end 4K 120Hz TVs, it appears that the mode will become standard with first-party PlayStation titles for years to come.

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Marvel’s Spider-Man 2 will offer a 40 FPS mode