PS5 Lag Issues - unsure if graphics settings or network

I’ve been playing poe2 since early access release and I have been encountering severe lag issues that weren’t present on the first weekend of launch but have bit more and more severe ever since

I’m in Act 2 and it’s now caused me to stop playing even though I have been loving it until this made my experience unplayable

I have read multiple threads on this forum that argue it’s either a network issue due to the auto join server placing you in a random server not close to where I live (I am UK) OR an issue with the graphics settings post patch

I have followed the advice for both (selecting my nearest server which is London) and ensuring I choose a new instance for the map I load into or changing the graphics settings from NIS to FPS (quality option)

Both of these options worked initially for a single play session instance, however now both options are not resulting in any change at all with the game freezing and rubberbanding every 5-10 seconds for about 1-3 seconds at a time

I’m on a difficult Act 2 boss and cannot progress with this being the case

Is there any resolution for these issues on PS5 planned soon? I do not think I am the only one experiencing this from what I can see on comments here and on reddit

For context I am playing on standard PS5 (not Pro) - not that I think that should matter!