PS5 - only getting 30-40 FPS

[PS5] I'm only getting around 30-40 (maybe just 30?) FPS on BF1. 
Every article I find says that BF1 runs around 60 FPS on the PlayStation 5. 

I've tried setting FOV to lowest, changing PS5 system resolution on PS5, etc. and nothing changes. 

The PS5 is not filled with dust or anything.

My monitor is working fine, and can output around 120HZ on e.g. Warzone 2. 

Perfomance Mode is preset in PS5 system. 

What am I doing wrong?