Your Blu-ray player is probably plugged into the wrong HDMI port
I’m a big physical media lover. I built out a Dolby Atmos sound system for it, and I add to my 4K Blu-ray collection as much as my wallet can handle. I also have a 4K Blu-ray player for my collection as it ensures the best picture quality that I can get. While your PlayStation 5 is a fine player, it doesn’t have Dolby Vision, and that’s what led me toward a dedicated player.