On PS5, the option for 120fps has been replaced with a second option for hdr which is locked to on.
To clarify there are now two options in the same menu for HDR. one is functioning, the other is locked to on.
Other games work fine with 120fps.
Is this bug something that is being worked on?
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Known issue: https://www.bungie.net/en/Explore/Detail/News/51779