diff --git a/CMake/FlagsOverride.cmake b/CMake/FlagsOverride.cmake
index 39c55aa62a..d52cf4b153 100644
--- a/CMake/FlagsOverride.cmake
+++ b/CMake/FlagsOverride.cmake
@@ -1,7 +1,11 @@
 if(CMAKE_CXX_COMPILER_ID STREQUAL "MSVC")
-  foreach(f CMAKE_C_FLAGS_DEBUG CMAKE_CXX_FLAGS_DEBUG CMAKE_C_FLAGS_RELWITHDEBINFO CMAKE_CXX_FLAGS_RELWITHDEBINFO)
-	  if("${${f}}" MATCHES "/Zi")
-		  string(REGEX REPLACE "/Zi" "/Z7" "${f}" "${${f}}")
-		endif()
-	endforeach()
-endif()
\ No newline at end of file
+  # The default MSVC flags for Release and RelWithDebInfo are poorly chosen
+  # (see issue https://gitlab.kitware.com/cmake/cmake/-/issues/20812)
+  # By default, inlining is disabled for RelWithDebInfo.
+  # Manually redefine MSVC flags to match Visual Studio defaults
+  # and ensure that Release builds generate debug info.
+  foreach(f CMAKE_C_FLAGS_RELWITHDEBINFO CMAKE_C_FLAGS_RELEASE CMAKE_CXX_FLAGS_RELWITHDEBINFO CMAKE_CXX_FLAGS_RELEASE)
+    # optimize, define NDEBUG, generate debug info
+    set(${f} "/O2 /DNDEBUG /Z7")
+  endforeach()
+endif()
diff --git a/CMakeLists.txt b/CMakeLists.txt
index 06137c57e0..e1565844e4 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -124,11 +124,6 @@ if (WIN32)
   elseif (CMAKE_SYSTEM_PROCESSOR STREQUAL "aarch64")
     string(APPEND CMAKE_RUNTIME_OUTPUT_DIRECTORY /ARM64)
   endif()
-
-  set(CMAKE_RUNTIME_OUTPUT_DIRECTORY_DEBUG ${CMAKE_RUNTIME_OUTPUT_DIRECTORY})
-  set(CMAKE_RUNTIME_OUTPUT_DIRECTORY_RELEASE ${CMAKE_RUNTIME_OUTPUT_DIRECTORY})
-  set(CMAKE_RUNTIME_OUTPUT_DIRECTORY_MINSIZEREL ${CMAKE_RUNTIME_OUTPUT_DIRECTORY})
-  set(CMAKE_RUNTIME_OUTPUT_DIRECTORY_RELWITHDEBINFO ${CMAKE_RUNTIME_OUTPUT_DIRECTORY})
 endif()
 
 # setup CCache
@@ -240,6 +235,12 @@ if(CMAKE_C_COMPILER_ID MATCHES "MSVC")
   check_and_add_flag(EXCEPTIONS /EHsc)
   dolphin_compile_definitions(_DEBUG DEBUG_ONLY)
 
+  # Enable function-level linking
+  add_compile_options(/Gy)
+  # Generate intrinsic functions
+  add_compile_options(/Oi)
+  # Disable buffer security check
+  add_compile_options(/GS-)
   # Enforce C++ standard conforming conversion rules to catch possible bugs
   add_compile_options(/permissive-)
   # Remove unreferenced inline functions/data to reduce link time and catch bugs
@@ -259,6 +260,10 @@ if(CMAKE_C_COMPILER_ID MATCHES "MSVC")
   )
 
   string(APPEND CMAKE_EXE_LINKER_FLAGS " /NXCOMPAT")
+  # Generate debug data
+  string(APPEND CMAKE_EXE_LINKER_FLAGS " /DEBUG")
+  # Eliminate dead code and data
+  string(APPEND CMAKE_EXE_LINKER_FLAGS " /OPT:REF /OPT:ICF")
 else()
   add_definitions(-D_DEFAULT_SOURCE)
 
@@ -327,10 +332,15 @@ if(CMAKE_SYSTEM_NAME MATCHES "Darwin")
 endif()
 
 if(ENABLE_LTO)
-  check_and_add_flag(LTO -flto)
-  if(CMAKE_CXX_COMPILER_ID STREQUAL GNU)
-    set(CMAKE_AR gcc-ar)
-    set(CMAKE_RANLIB gcc-ranlib)
+  if(CMAKE_C_COMPILER_ID MATCHES "MSVC")
+    add_compile_options(/GL)
+    string(APPEND CMAKE_EXE_LINKER_FLAGS " /LTCG")
+  else()
+    check_and_add_flag(LTO -flto)
+    if(CMAKE_CXX_COMPILER_ID STREQUAL GNU)
+      set(CMAKE_AR gcc-ar)
+      set(CMAKE_RANLIB gcc-ranlib)
+    endif()
   endif()
 endif()
 
@@ -844,6 +854,8 @@ include_directories("${PROJECT_BINARY_DIR}/Source/Core")
 #
 if(ENABLE_TESTS)
   message(STATUS "Using static gtest from Externals")
+  # Force gtest to link the C runtime dynamically on Windows in order to avoid runtime mismatches.
+  set(gtest_force_shared_crt ON CACHE BOOL "" FORCE)
   add_subdirectory(Externals/gtest EXCLUDE_FROM_ALL)
 else()
   message(STATUS "Unit tests are disabled")
diff --git a/Source/Core/DolphinQt/CMakeLists.txt b/Source/Core/DolphinQt/CMakeLists.txt
index 41b24a9c26..13c9a3d79a 100644
--- a/Source/Core/DolphinQt/CMakeLists.txt
+++ b/Source/Core/DolphinQt/CMakeLists.txt
@@ -370,6 +370,11 @@ if(WIN32)
     COMMAND ${CMAKE_COMMAND} -E copy_directory "${CMAKE_SOURCE_DIR}/Data/Sys" "${CMAKE_RUNTIME_OUTPUT_DIRECTORY}/Sys"
   )
 
+  # Copy license.txt
+  add_custom_command(TARGET dolphin-emu POST_BUILD
+    COMMAND ${CMAKE_COMMAND} -E copy_if_different "${CMAKE_SOURCE_DIR}/license.txt" "${CMAKE_RUNTIME_OUTPUT_DIRECTORY}/license.txt"
+  )
+
   # Copy qt.conf
   add_custom_command(TARGET dolphin-emu POST_BUILD
     COMMAND ${CMAKE_COMMAND} -E copy_if_different "${CMAKE_CURRENT_SOURCE_DIR}/qt.conf.win" "${CMAKE_RUNTIME_OUTPUT_DIRECTORY}/qt.conf"
@@ -401,6 +406,9 @@ if(WIN32)
                                  $<IF:$<CONFIG:Debug>,--debug,--release>
                                  --no-translations
                                  --no-compiler-runtime
+                                 --no-system-d3d-compiler
+                                 --no-angle
+                                 --no-opengl-sw
                                  "$<TARGET_FILE:dolphin-emu>"
   )
 endif()
@@ -423,7 +431,11 @@ if(GETTEXT_MSGFMT_EXECUTABLE)
 
   foreach(po ${LINGUAS})
     get_filename_component(lang ${po} NAME_WE)
-    set(mo_dir ${CMAKE_CURRENT_BINARY_DIR}/${lang})
+    if(WIN32)
+      set(mo_dir ${CMAKE_RUNTIME_OUTPUT_DIRECTORY}/Languages/${lang})
+    else()
+      set(mo_dir ${CMAKE_CURRENT_BINARY_DIR}/${lang})
+    endif()
     set(mo ${mo_dir}/dolphin-emu.mo)
 
     target_sources(dolphin-emu PRIVATE ${mo})
@@ -439,7 +451,6 @@ if(GETTEXT_MSGFMT_EXECUTABLE)
       add_custom_command(OUTPUT ${mo}
         COMMAND ${CMAKE_COMMAND} -E make_directory ${mo_dir}
         COMMAND ${GETTEXT_MSGFMT_EXECUTABLE} -o ${mo} ${po}
-        COMMAND ${CMAKE_COMMAND} -E copy ${mo} ${CMAKE_RUNTIME_OUTPUT_DIRECTORY}/Languages/${lang}/dolphin-emu.mo
         DEPENDS ${po}
       )
     else()