Well, this is exactly the issue for me.
Rather naively, I believed Sound United when they said the PS5 isn't affected by the issues surrounding the Panasonic HDMI chipset. It allegedly, only affects the X-Box.
Hence, why I purchased an X3700H in January, even though I was aware of the issues surrounding the problematic chipset.
There's a single 2.1 HDMI on the Denon's, it's identified as 8K on the rear and you have to enable '8K' within the settings in order to benefit from the likes of 120Hz.
Doing so on mine has caused me issues. I shouldn't have bought it. I regret my purchase... mostly because of the bloomin' earache I get from the family when things don't work
.