This is a hoary old subject that’s been battered around countless times over the years. My take on it is:
Vsync should be on if the games FPS is over the refresh rate of the monitor - turning it off is only useful for willy-waving computer comparisons.
Vsync should be an option if the game FPS is under the refresh rate of the monitor - it will eliminate tearing at the expense of a lower framerate. Let the user decide if it’s worth it.
To the OP: 500 FPS is far higher than any monitor can display, so don’t worry about it. Using Thread.sleep will make your game much friendlier to other processes on the computer, which is a good thing.