So, I've been playing around with the EOS Webcam Utility for awhile now. It's improved a small chunk since beta but is still not the best. I am using it with an EOS M50 and I find that it gets choppy and stuttery when not set to 1080p 30fps. At 60 it's a bit of a mess and at 24 it's also oddly a bit messy. 720p 60fps, which should technically use similar bandwidth to 1080p 30fps is also hot garbage.
Something I am experimenting with is Buffered vs. Non-Buffered, mainly for audio syncing purposes. I find that unbuffered the picture can fluctuate and lose sync with the audio, fall back into sync, lose sync again, etc. With buffering on the video is very smooth with a predictable 200 ms delay (for me, your mileage may vary). OBS Studio's tooltip says that you normally wouldn't want buffering for facecam, but the EOS Webcam Utility, at least in my opinion, is something that benefits from it.
Hope this helps someone. I'm sitll experimenting with all the settings and fine tuning myself so take the above with a grain of salt and stuff.