I think I get this same issue and I've found several threads on the topic WITHOUT an answer
My game "spikes" every few seconds. It plays like it has 900+ ping, almost completely unplayable. However in between these spikes it plays like it should, very fluid without issue. That said, I get upwards of 200fps on some of these games with a ping of 20-60. Your character in game teleports back a few seconds. You jump and you stop mid jump and are back on the ground. Almost unplayable in its frequency.
I have fully updated intel and nvidia drivers and have found no answer on this subject. It has done this for me EXCLUSIVELY on source engine games and call of duty advanced warefare. Other games, even more graphically intense games, do not have this problem whatsoever and run beautifully.
I have a g750js