Review on Benfei HDMI to DisplayPort Adapter: 4K@60Hz Resolution for Laptop, Xbox, PS4, PS3 - HDMI Input to DisplayPort Output by Matt Welch

At first I thought the adapter wouldn't work because the info box on the PS5 video screen showed 60Hz. The only thing that let me know the adapter was working was the monitor's information bar showing 120Hz, and that was only when I was playing a game that allowed 120Hz frame rates. This information was not displayed at all on the console. After connecting this to your monitor, check the frame rate through the monitor itself as the PS5 console will not let you know you are connected to a 120Hz capable monitor. You must be playing a game that supports 120Hz to see these settings, otherwise the default 60Hz frame rate will be displayed. Hope this helps other confused PS5 owners.