Well I seem to have fixed the issue!
I rebuilt the database of the PS5.. I'll leave basic instructions on how I did it just in case someone has a similar problem and stumbles on this thread..
To rebuild the database, hold down the power button on the console for 3 seconds to turn it off. Wait for the LED to stop blinking to ensure it's off completely. Now hold the power button again, it will beep straight away indicating it's turning on, keep holding for another 5-7 seconds until you hear a second beep. Let go of the button after the second beep and the PS5 will boot up in ''Safe Mode''. Plug your controller directly into your console via the USB as safe mode doesn't support bluetooth. From here there will be a list of very basic options - change video output, restore default settings etc.. Select ''clear cache and rebuild database''. It may take up to 15mins to do this. Once complete your console will boot up as normal. It attempts to give you a 'tour' of the PS5s functionallity - for which I'm sure you're already familiar with, and your home screen (mine at least) looks a little unfamiliar with games that I havn't played in a long time displayed instead of my most recent.
I'm very relieved I figured this out. I really didn't want to begin emailing Sony with no guarantee of a response.
Anyway, I hope someone finds this useful!