My new "tv" supports 4k 120 fps on xbox but only 4k 60 fps on ps5. I don't know how the rollout of 2.1 has been this bad.What TV do you have?
(I bought my monitor knowing this, so not a problem for me)
A lot of the issues seem to be on MediaTek who makes the chips.
LG and Samsung are the only ones with their own internal chipsets. That's why they're the only ones with 4x HDMI 2.1 ports. And why LG was able to update their TV to support 4K120 with full Dolby Vision.
Whereas Sony's X900H last year could only do half of 4K120, and it's apparently why they're having trouble with VRR, among other issues.
The X90J I have, at least supports full 4K120, but I don't think Dolby Vision will happen with that...
It's disappointing, but I'm not too upset about it, the TVs that do are a lot more expensive.