I tested Lidar Lite V3 with Uno using the Garmin library I2C example. The specs says the reading accuracy should be within ±2.5cm for <5m range and ±10cm for the rest, but my result didn't match at all.
I pointed Lidar Lite towards a wall at different distances, recorded ~1000 samples at ~30Hz rate at each location and checked reading fluctuation:
Are you using a "70% reflective target" as per the documentation?
The device uses 905nm so there is no guarantee that something that appears reflective/white to you in the visible range is also reflective at that wavelength.
Are the values you see constant offsets or variations about a mean?
Yes, similar. His result seems to have less fluctuations than mine. Also my test beyond at 20m was like what he had for 40m, a lot of 1s and random erroneous values with several correct readings every now and then.
If you fancy a bit of decorating visit your local hardware store and look for 'heat reflecting paint'. These are loaded with various metal oxides that reflect in the near infrared.