If you just want to try it out and not spent a lot of money you can go this route.
Cheap Capture Dongle https://www.amazon.com/-/de/dp/B09FLN63B3
In addition you need a cheap HDMI splitter, https://www.amazon.com/-/de/dp/B0732MD43P, and 2 more HDMI cables
All this will set you back maybe 40$ if you have to buy everything new.
The Capture dongle is cheap but does it's job, I occasionally use 2 of them, not the greatest quality but it's cheap enough to not worry about it if it's not working out the way you want.
here's a link for a splitter, I hope this helps!
PS5's have built-in HDCP as a form of copyright protection so you can't record movies and stuff. So do PS3's and PS4's.
To get around this issue, you can disable HDCP in the video settings. Just be aware that for certain cutscenes in video games the recording might bug out, give you a warning, or just go black screen. I also don't think you can watch any steaming services or watch blu-ray movies/shoes with it off. I haven't tested it myself, but I think that'll help you right now for a majority of cases.
The best workaround is to get something like a cheap HDMI splitter on Amazon, and split the HDMI signal which will strip out the HDCP. Stripping it out isn't an intended feature of these splitters, just a side-effect of the crappy hardware/firmware within them.
The setup would have your PS5 HDMI ouput as the input to the splitter, and then one of the splitter's output is the input to your capture card. This would allow you to capture the footage all the time without disabling the HDCP in the settings so you can capture 100% of your game footage. The other splitter's output can be to your TV as well if you want. That way you don't need to use your capture card output cable which also means you could play your console without having your PC turned on.
Here's one that might work - https://www.amazon.com/Splitter-LinkS-Amplifier-Source-Displays/dp/B0732MD43P based on a review. I'd link the one I bought 2 years ago and use to this day but seems like Amazon yanked it.
