Unresponsive mouse wheel on macOS Sierra
I've looked for many solutions and USB Overdrive, is the only one that I've found that fixes it. Would love to hear if there are others, because I agree the nagware aspect is annoying (although it's only on boot, so it's not actually that bad).

Install it, then, in the settings, set "Wheel up" to scroll up "2 lines" and "Wheel down" to scroll down "2 lines". For whatever reason you have to use "2 lines"—"one line" still exhibits the issue. It's possible your mouse will require different settings.