Username not displaying properly - PS5 Online Versus couch play

When playing with more than 2 local players in Online Versus, the usernames for players 3 and 4 do not display properly. All players other than player 1 display the username under their skater as player 2's username, even when logged into unique PSN accounts. 

For example, if player 1 is "P1", player 2 is "P2", player 3 is "P3" and so on, players 2, 3 and 4 would all display as "P2" when playing the game. Makes it difficult to differentiate between who is who when playing. 

Am playing the latest update on the original PS5.