Connect PS5 to system?

I get a new OLED TV and have to rewire my system and PS5. I would like to run the system on both the PS5 and the TV.
Do you have any idea how to wire this up? I thought I would put the PS5 on the HDMI 2.1 input and connect the system to the HDMI ARC. Do all devices then run through the system?

Or rather:
Connect PS5 to TV Hdmi 2.1, TV and system via optical cable? I've read that optical cables don't give the best sound.

What kind of system is it anyway?

An AV receiver with optical and HDMI connections, I suppose.

Optical cables can transmit a maximum of DD / DTS 5.1, then it's over. Sufficient for gaming and streaming services, since the sound formats are, shamefully, still considered the standard there.

With BD's it looks different. HD sound formats such as DTS-HD Master are the standard. Optical doesn't do that anymore. Then you would need HDMI. The more detours the signal is channeled, the more lossy it becomes.

Modern AVR's are also HDR / Dolby Vision compatible & process / transmit the signals perfectly. You may have to make settings on the AVR & TV.

Just try it. If the first variant works and you have no problems with picture / sound, it works.

Take a look here: https://support-de.denon.com/app/answers/detail/a_id/7369/~/kompatibilit%E3%84t-von-hdmi-2.1-quellen-mit-av-receivern.

Moin and thank you for your answer.
It is the HTB5580G from Philips, this system has an optical and an hdmi output.

Then I'll try to connect my console to the 4K120HZ port via HDMI and connect the receiver to the HDMI ARC. Then the sound should fit, I think.
The only question is how the sound is when I play a UHD on the PS5. Is the signal then sent through the TV to the system and decoded there?

You're welcome.

If there's only one and no entrance, it will be difficult. Then just try it out. You don't have a lot of options then.

Do you have a display that shows the format? (DD, DTS etc?)

If so, then you see. With the optical, the higher-quality signals are usually converted to DTS / DD 5.1, depending on which setting you have preselected on your console.