I control temps by keeping my carboy in a temp controlled water bath. The Inkbird probe is in the water. I initially tried putting the probe in the wort, but that did not work out. By the time the water had cooled the wort back down to the set temp, it was so much colder that it kept cooling the wort far below my target temp. By controlling the temp of the water bath, I find that the wort is typically only a few tenths of a degree warmer even during active fermentation, and after that subsides, is usually within one tenth of a degree of the water bath. So there is way less flucuation of the wort temp. I have a second temp probe that I keep in the wort, just for monitoring purposes.
Others have stated that they had similar overshooting issues with air cooling, but I think that most people using the inkbird do tape it to the side of their carboy and insulate the probe from the ambient air.