they finally started putting out 4 port HDMI 2.1 switches in the past few months, I have a ps5, series X, 360, ps3, switch, PC, and steam deck attached to my LG OLED which only has 3 or 4 HDMI ports so I was using a hdmi 2.0 switch for some stuff which was a pain in the ass.
finally bought this $45 switch
Amazon product ASIN B09ZXB5LTJwww.amazon.com/dp/B09ZXB5LTJ
and been using it a few days now and it works great, 4K 60hz with dolby vision, HDR, VRR, even g-Sync with my PC, ps5 and series X and switch hooked up no problem all to it. Haven't tried 120hz mode and doubt I will bother, just don't care about it but I'm sure it'll work fine. My PC is still hooked directly to the TV but nowadays I just use Plex app directly for torrented tv/movies so I rarely use PC mode.
48gbps HDMI 2.1 seems to work fine, cables are super important and I bought 10 cheap 10' USA-made certified HDMI 2.1 cables from amazon last year and threw out all my other questionable HDMI cables so I don't have to play the "is it the cable or something else" game.
It auto detects great and LG TVs (with HDMI CEC enabled on the consoles) auto turn the TV on too, you have to set your xbox to NOT turn the tv off when you power off the console not sure if you can do that on ps5.
Still no 5-8 port HDMI 2.1 switches which would be ideal but I decided 4 was good enough, i have my 360 and ps3 disconnected for now since I haven't turned either on in over a year.