System Latency Impacts Hit Registration

The higher the refresh rate the better, you need to reach at least the same FPS to benefit but the higher the FPS the lower frametimes & better input lag.
You see the enemy as soon as the GPU renders it. Someone with the same system as you but lower hz monitor will see you few ms later than you see him (provided has the same connection too).
System latency and your reactions can compensate when playing vs player with a better connection. There is also game compensation but thats unpredictable. There is a situation where higher ping player can have an advantage over you.
Original video source is Nvidia channel btw.