Before you go tearing your hair out for a couple hours if your PS5 gets immediately kicked from the router upon attempting to connect with it's less than helpful, "try moving closer to the wifi" response consider that one of three things is wrong on the new router:
1) You have more advanced authentication methods enabled than the PS5 can handle - has to be WPA, WPA2, or WPA3 (this is rarely the issue).
2) Even though you are 120% sure you typed the password correctly in the PS5 wifi config forget the network and try it one more time.
3) The password for the wifi on your router isn't something the PS5 can handle. Yep....here it is. Some character's cannot be handled properly by the PS5 and one of those is ":" .. yep the colon character. Really? okay. It can handle "!" and "^" but not ":"! According to other research I did online it also cannot use
Solution: Change the Wi-Fi Password on the Router: If the current password contains special characters that the PS5 cannot handle, change the password on your router to something simpler. Use a combination of letters, numbers, and avoid special characters like :, ;, etc. After changing the password, save the changes on your router and then re-enter the new password on your PS5.
Come on Sony.... really?
