The PS5 ships with a 48Gbps HDMI 2.1 cable. Indeed, when plugged to an HDMI 2.1 port we can see that 120Hz shows up as a supported frame rate. Unlike Xbox Series X, there doesn’t seem to be any way to manually select a frame rate. If we missed something, let us know. The PS5 presumably negotiates frame rates with each game and app, and the UI appears to run in 60Hz 4K, unlike the 60Hz 1080p of the Xbox Series X as of late November 2020. With HDMI 2.1, 4K 120Hz is clearly a firm part of the PS5 resolution/refresh rate constellation, so support won’t be an issue.
We’re slightly confused regarding bit color depth and HDR in this HDMI 2.1 scenario. The UI seemingly operates in RGB HDR, which would mean no subsampling and 10-bit color. That’s good, as we’re on 10-bit color panels. But then in the detailed refresh rate info down below on the screen shown, we see YUV422 in parentheses. Not sure if that means the PS5 supports YUV422 or always outputs YUV422 in games and apps. This isn’t a big deal, just something we’ll look into for future clarity.