I believe this is already fixed upstream, at least for T450s:
https://lists.freedesktop.org/archives/wayland-
devel/2018-April/037934.html
** Changed in: libinput (Ubuntu)
Importance: Undecided => Medium
** Changed in: libinput (Ubuntu)
Status: New => Triaged
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https://bugs.launchpad.net/bugs/1769322
Title:
Trackpoint reacts jumpy and isn't precise when moved a short distance
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