I can't really help with the cable and switch because the PS5 might be more temperamental about it than my current gear. I use one of these with my UHD50 for 4K/60hz 4:2:0 10bit HDR or 60hz 8bit 4:4:4 HDR:So I can’t swap that cable myself as I don’t have the tools to snake through the wall. If I had someone replace what would it be with? A 2.1?
Any recommendations on a better switch?
If it works you could use one port for HDMI1 and your existing cable and the other for HDMI2 for a new cable, but there are probably higher spec switches available.
I guess 48gbps cable might be the way to go.