The game is using your Nvidia card according to this DeviceConfig log, even if it's not recognizing the exact model. I'd like to preface this by pointing out that, although very new, the MX130 is a low-end card and is not suitable for heavy graphics intensive games. It is essentially equivalent to an Nvidia 940MX from the prior series and just doesn't have the required throughput in its architecture that a more mid-range card has, thus potentially leading to all kinds of issues and limitations within gameplay even when it is working as it should. I would expect the heavy hitting EPs, being Pets and Seasons, possibly along with IP and ITF to be too much for it. So would playing on too high a resolution and with graphics options more than low or medium in most cases.
The processor on this laptop is also not meant for gaming. Although an i7, the U-series processors are weak and bottlenecking can happen. Think of that as being a sort of data/graphics data traffic jam with too many entrances on the highway but only one exit.
With all of that said, and not yet knowing how many or which EPs you have in play, yes you do need to get those frame rates capped somehow so you are indeed approaching one of the relevant problems. If you have ever used GeForce Experience to "optimize" the game, you will want to undo that. It has a tendency to make a mess of TS3 and get in its way. Afraid I cannot provide a screenshot because my card is AMD, not Nvidia.
Win 10 and its successive Creators Updates can also be getting in the way of the fps capping. There are ways to mitigate its effects.
http://forums.thesims.com/en_US/discussion/comment/15902876/#Comment_15902876
If still no better, you might want to try RTSS which takes a different approach to fps capping. Note that unlike Inspector, RTSS needs to be running alongside of the game in order to be effective. It can be configured to start up with Windows automatically, just be sure not to quit it entirely (minimize instead) after changing any of its settings.
http://www.guru3d.com/files-details/rtss-rivatuner-statistics-server-download.html
(note that the real downloads are 2/3 of the way down the screen, not any that might appear in the upper right corner if one does not have ad blocker, as those would be rogue advertising)
If all of that still produces no results, we can help you get that card formally recognized by the game so it uses a suitable default profile instead of the generic one. But that's not as likely to fix a stubborn uncapped fps issue.