Same issue here on PS5 version.
PS5 version also hangs at the menu a lot. Usually restarting the game fixes it for me.
This has been resolved. Local entity count was through the roof.
I have this problem too, it started occuring 1.2
Uh, You posted this after me?
Like a minute or 2.
+1 for splitscreen with own accounts in Realms not working on PS5, defaults second player to hostname(1).