NM. Just installed the patch and can confirm, PS5 now can do 120Hz!!!! Obviously it isnt working correctly but this is great news!
It isnt gonna work right now because VRR is still not supported.
Does it work properly when you play offline?
I fired up a playnow and recorded it and it seemed to be working. I literally just got home and installed the patch like 15 min ago, so havent had much time to mess around lol.
That's good news. With VRR dropping soon for PS5, those are major developments which will also benchmark other games. Now hopefully a gameplay patch will come soon and the game can be saved.