I don't know what it could be, then. When you say "Dolphin thinks it's running fullspeed", do you mean that dolphin's FPS counter reports 60 FPS but you are measuring 30 FPS some other way? Since you said this affects every game, I'm assuming this happens with games that originally supported 60 FPS without cheat codes.
Windows 10 Pro x64 | i7-9700K @ 4.6-5.0GHz | MSI Z370 Gaming Plus | MSI RX 5700 8GB Factory-OC | 16 GB DDR4-3000
