Why are you using frame gen or scaling when you're already getting hundreds of FPS? 700+ is easily enough for any display on the market, AFAIK.
Generated frames do not reduce input latency like real performance, in your position you have literally no need for it.

The software shines most when you wanted to either upscale a game from lower to native resolution with hopefully less performance impact than native or do a frame generation on limited but stable FPS situation to get a high frame rate experience.

If you already have a high FPS on native resolution, chances are the software usually used on specific games (usually single-player offline) that tied or lock their FPS on specific number due to physics issues such as rag-doll mechanics on and you want to double / triple the FPS without breaking in-game physics.

Answering the "...700+ fps to a base of under 200.", I assume your monitor only have either 60 Hz / 144 Hz / 240 Hz refresh rate ? In which this case, the software will hard-cap the FPS to your screen refresh rate when sync mode is set to Default or V-sync. Try to set the sync mode to off.