Hello, how are you? My name is Mateus. I'm an Independent Advisor and I'll be glad to help you today.
First, welcome to the Xbox community. According to what I researched, yes this monitor will support 1440P at this refresh rate, I say this because some monitors don't have enough transfer speed on their HDMI ports to support both of these things at the same time.
The HDMI ports on this monitor are 2.0, the Xbox x series comes bundled with an HDMI 2.1 cable, which is designed to support resolutions up to 8K. Usually, people use this cable to run 4K games at 120FPS, but 2.0 is enough to run games at 1440P at 120FPS.
On the link below you can find a review about this monitor, it is a review made by third parties, so there is no guarantee that it is 100% correct.
https://www.youtube.com/watch?v=gPSNacvYWVM
*Thank you in advance for contacting the community, I hope this can help you.