Use proper 5e stats and XP rewards, revamp some of the encounters a bit (and I don't mean a complete overhaul - just tweaks), give us party of 6 as a standard norm, and you'd have balance. You would not need a level cap.
As usualy you just trade one problem for another. :-/
Exping would then be awfully slow ...
Just try to imagine you would need to suffer level 1 during whole crypt, attack on grove, fighting the goblins in secret passage, fighting the harpies, Blighted Village, and maybe something more.

And there is another ... strong encounters.
Imagine you play as a Gith ... and your character really agrees with Laezel ... then imagine you would only get to level 3 during whoooole surface ... and then you met Githyanki Patrol. :-/
What would you do?
And remember this is suppose to be ROLEPLAYING game ... so there is no "i just go to Underdark to get some more XP". :-/
Well, BG3 is really far from any resemblance of balance
During that last year and (almost half?) you should allready noticed that this is more like "work in progress".

IF Larian is worried about that being too much XP and causing over leveling instead of level capping us (especially at lvl 4) they simply can remove some of the things that cause you to get XP...
NO, they cant.

I obviously dont what "what Larian is affraid of", but if i had to gues ... my money would go indeed to ballance.
You have two players in Act 1 ...
Player A ... lets call him for example CMK ... no reason, certainly not anyhow related to his previous claim that he will rush to next Act once he reach level cap.

... Will rush to next Act once he reach level cap.
Plyber B ... lets call him for example RagnarokCzD ... again, no reason at all, is completionist madman and will never move to the next part until he explore curent one ...
Now after end of Act 1 ... you need those players to be at aproximately same strength, otherwise no matter what you prepare one of them (CMK) will probably die no matter what, since he is missing gear from skipped quests and locations, maybe there could be some NPCs or secret to reveal, that would helm him aswell ... but he never seen them, bcs he rushed forward ... and the other (RagnarokCzD) will most likely go through everything like a hot knife through butter, bcs he didnt missed anything from his path, but he also gathered everything from pathes he was not even supposed to take.

In other words ...
Even if you would change amount of XP "per Act" all you change is how fast people get that level ...
But you still will have those who just follow the main quest ... and those who are exploring like crazy ... and you need to keep them on at least simmilar level.