I have the same trainer and find mine does this unless I put it in the small ring and middle of the cassette. In the big ring it seems to emphasise each pedal stroke and then is trying to adjust the resistance to match. Give it a try and see what happens.
I post most of my workouts in what ride did you do today. Here’s yesterday’s…
I have the Direto (not the X) and yes, that amount of variance is normal. I can even consistently “overpower” the ERG mode and ride at a power level above what the program may call for. Elite told me something along the lines that the Direto samples the power 12 times a second or something like that, which is why you see the variances. Sounded kinda like hoohah, but whatever…I have grown to actually like the flexibility it provides.
Also note that the Direto seems to have “floors” and “ceilings” for some years…so if you can’t get your power low enough on a recovery interval, just shift down a gear or two and it will adjust. Same for higher wattage, just in reverse.