I am also seeing the same issue, my world opened fine in the last 1.17 version PS4 client running on a PS5 (~950 MB world size), the first time I tried to update the world it opened, flashed the non-textured blocks before falling through the floor and crashing, retrying this world and the copies of this world now just show me the data storage space dirt message after. I have cloud backups so hopefully my old world can eventually be updated but for now this save is now definitely unplayable.
BWALL
I am also seeing the same issue, my world opened fine in the last 1.17 version PS4 client running on a PS5 (~950 MB world size), the first time I tried to update the world it opened, flashed the non-textured blocks before falling through the floor and crashing, retrying this world and the copies of this world now just show me the data storage space dirt message after. I have cloud backups so hopefully my old world can eventually be updated but for now this save is now definitely unplayable.