Network Bar Alway RED

I’m experiencing significant lag while playing Seasons on my PS5. My internet connection is stable at 100mbps download and 100mbps upload, yet the network indicator is constantly red during matches, the gameplay suffers with delays of up to seconds, making it nearly unplayable. I am connected via ethernet and only the PS connected to the router.

Please let me know if there are any troubleshooting steps or server issues that could explain this.