So I ended up getting a different cable from amazon and it works with this cable: https://www.amazon.com/gp/product/B083RY5NZH/ref=ppx_yo_dt_b_asin_title_o00_s00?ie=UTF8&psc=1
I looked up my Sony TV's specs and you're correct in that my TV doesn't support 240p, the lowest is 480p. PS1 games output in 240p, so that would explain the problem. However, if the cord is supposed to upscale the signal, I thought it would work, but maybe it actually doesn't upscale the signal, just converts the signal to a digital format over HDMI? In any case, the new cable I got seems to work lol.
https://www.amazon.com/gp/product/B083RY5NZH
I use this for my 49 inch Roku TCL TV. Works pretty well. You'll probably need to turn up brightness on any dark (scary) games you wanna play. I say this because I started playing Silent Hill 3 for the first time ever earlier this month, and it was dark as hell, but turning up the brightness made the game playable.