Do NOT Update. Potential to delete all of your saves...
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Your latest update 1.008 to "fix" the freezing issue has DELETED ALL OF MY SAVE FILES. 3 Years into franchise. 3 Years into RTTS. WORTHLESS! I am done with The Show franchise forever. Whoever is responsible for this needs to be FIRED immediately. Over 100 hours of gameplay thrown away because a lack of attention to detail.
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While I do believe SDS needs to do a WAY better job when it comes to doing QA on their stuff (and by that I mean actually having a QA process before release)...you should be able to uninstall and reinstall the game and it should be back...at the very least able to pull it from the PS5's hard drive
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AFAIK, the games are saved 'to the cloud'. This enables the cross device playing ability.
The games are there somewhere. Just need to access them.
Like @sarge1387_psn said, an uninstall/reinstall should do the trick. Or you could try to logout/login to your profile.
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My saves are fine, had this happen to me 2 years ago but all is well today.
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Yeah, update worked fantastic for me, no hitches thankfully.