Timestep isn't in seconds?

See: Physics simulation rate — The updates are the same, with the same dt. I’m not the right person to answer your second question, but I’m guessing it’s a no.

I’m not quite sure how Defold limits the frame rate to be honest. I have a 75Hz monitor to test with. A windows desktop build with fixed dt seems to adjust and run fine on it, but an HTML version needs variable dt to run correctly.