Question about Sony OLED KD65AG9

To get the signal from the PS5, you need at least HDMI 2.0 connectivity (for 1080p at 120 fps). HDMI 2.1 is needed for 4K at 120fps. The TV only has HDMI 2.0, so 4k at 120fps will not work.

VIDEO SIGNAL SUPPORT:
HDMI™ signal: 4,096 x 2,160p (24, 50, 60 Hz), 3,840 x 2,160p (24, 25, 30, 50, 60 Hz), 1,080p (30, 50, 60, 100, 120 Hz), 1,080/24p, 1,080i (50, 60 Hz), 720p (30, 50, 60 Hz), 720/24p, 576p, 480p.