Yo, I fixed this by switching to a 5GHz Wi-Fi band instead of 2.4GHz. For some reason, my PS5 couldn’t get an IP on 2.4GHz. Go to Settings > Network > Set Up Internet Connection, and choose the 5GHz network if it’s available.
If that doesn’t work, maybe try a different Ethernet cable if you’re using a wired connection.
If that doesn’t work, maybe try a different Ethernet cable if you’re using a wired connection.