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Rafie said:

Finally was able to procure a PS5 through Sony's invitation. It arrives Friday. Can't wait to experience everything you've covered. Oh and I have to go and buy a 4K tv now.

TL;DR:

If you want to transfer user data from PS4 to PS5: connect them with an ethernet cable directly... it can save you hours.

If you connect it to your new TV: be sure you are in game mode