Would the Acer QG241Y P monitor support 120hz on the PS5?

I ordered a monitor, namely the Acer QG241Y P with 165hz. The VESA is actually compatible but I'm not sure if the Ps5 will downscale the 165hz to 120hz because, to my knowledge, monitors with 165hz are rather unusual and there are mostly 144hz, 240hz or less often 360hz.

Thanks in advance

Almost the same and is supported by my PS5.

Yes, every monitor or TV is supported by the PS5

Is it also supported by the xbox series s