You can have the TV still be a dumb monitor by using a TV box, but handle the switching of inputs if you have more than one input.
The problem is that as video technology has advanced, it makes less and less sense to pay for video processing technology on a receiver. Your new TV supports HDMI 2.1 with 120hz and VRR for your new PS5.
Does your receiver? Are you willing to spend $1000 to upgrade your receiver to simply correctly pass through that video signal, with little meaningful audio upgrade?
The problem is that as video technology has advanced, it makes less and less sense to pay for video processing technology on a receiver. Your new TV supports HDMI 2.1 with 120hz and VRR for your new PS5.
Does your receiver? Are you willing to spend $1000 to upgrade your receiver to simply correctly pass through that video signal, with little meaningful audio upgrade?