Don't get me wrong it looks and plays great as long as I do all the settings manually. If I put everything at Auto it forces full RGB instead of limited and HDR on SDR games plus if I put the resolution manually to 2016P it looks much better than auto. If I manually put the settings where they should be then everything looks great. The Series X on the other hand reads all the settings right. My TV is a Sony 900E by the way.
This is weird. I have a Sony 950G and my reads all TV settings perfectly. In fact, every time you connect a new device, it pops up a notification, select what kind of device it is, and it leaves it looking perfectly in every way. Of course, you can fine tune several settings manually if you like. Everything on my PS5 is on auto.
One thing I hated was that the PS5 had always on HDR, but not anymore, so it works 100% fine now on my TV.
The strange thing, is that your Sony TV should work flawlessly with the PS5. If it doesn't, maybe it has to do with previous configuration you had on the TV or it interferes with the Home Theater system in some way, preventing it to have the correct settings automatically?