IMO better save up a bit more to get a TV with 4k/120 support

a good 4K 144hz monitor now is still pretty expensive, even for a 27"

you might be able to grab one average 27" 4K 60Hz IPS monitor with your budget, if you don't mind didn't get full performance out of your PS5
and last I've checked, HDR implementation on monitor is still pretty crappy compared to TV