Have you tried with the modesetting driver instead? (this is default, the intel driver hasn't got any release in years, 2.99.997 was tagged 5 years ago).
xfwm4 relies on either GLX or Xpresent to swap buffers on vsync, if you get tearing, there is not so much it can do.
That said, this could be simply that the two outputs have completely different refresh rates and the driver cannot sync on both simultaneously, you could try changing the refresh rates of your monitors to be closer to see if that makes any difference.
No way to contact the reporter with the bugzilla move, so closing. For those having tearing issues with 4.13 and above, changing the vblank to GLX or Xpresent should resolve it.
https://git.xfce.org/xfce/xfwm4/tree/COMPOSITOR#n114