Xbox Series S 120 Hz not working with Asus VG 248qe monitor?

Today I connected my Xbox Series S to the Asus monitor and was looking forward to the 120 Hz. When I set it to 120 Hz, the monitor went black for a moment and then stood there out of range. I don't understand why this doesn't work. I use the included hdmi 1.4 cable which can transmit 120 Hz at a resolution of 1080p. My monitor supports up to 144 Hz so I wonder what the problem is.

Look in the menu of the monitor whether there's an option to set it to 120hz.

Doesn't exist in the monitor. On the PC, I always did this via the Nvida control panel