This monitor is unsuitable for the PS5.
1) The resolution this monitor has (2560x1440p) cannot be reproduced by the PS5 (The Ps5 is only playable with 1920x1080p or 3840x2160p).

2) The HDMI port that this monitor has can only transmit 60Hz. To get the full 165Hz you have to use the Display Port connector with Displayport cable.

But as far as I know the PS5 does not have a Displayport connector.

There are a few monitors or TVs that have an HDMI port that can transmit 120Hz. Most of them are labelled "PS5 Ready".

Besides, a TV always has 1080p or 2160p, so the resolution works without problems.

But unfortunately this monitor is only suitable for PC gamers.