How to measure LG performance?

I’m making some tests with LG performance: (1) cheap vs middle-price gpus, (2) pcie speed, (3) chipset pcie vs direct cpu pcie, (4) number and quality of host cpu cores, (5) gpu memory speed

My goal is to understand what is the cheapest hardware for QHD smoothest 144fps and lowest latency for non-gaming tasks.

How to measure LG performance correct way? Number of UPS? Frame time graph?

UPS is only part of the story, if your guest system is not capable of moving enough bandwidth for Looking Glass AND the game you intend to run, then you will see issues.

Really there is no one configuration that suits all because it varies wildly depending on the guest workload.