Hello. This was fun and interesting to play with.
Freya Holmér did a great presentation on frame-rate independent lerp: “Lerp smoothing is broken” ( https://www.youtube.com/watch?v=LSNQuFEDOyQ ).
It is nice to see it in action.
Her equation is slightly different: (a - b) * Mathf.Pow(r, deltaTime) + b
Or for exponential decay: (a - b) * Mathf.Exp(-decay * deltaTime) + b