Get a Series S or X instead, much better value for money than a PS5, and this is coming from a Sony fanboy! 

Yes, both are the same but Series S does not have a disc drive (digital only) and is less powerful than the Series X, meaning games will usually run at 1080p instead of 4K like the Series X. Basically get a Series X if you value 4K and discs or Series S if you don't mind playing the same games at 1080p and no disc can be used.

This generation also sees very minimal hardware differences when it comes to performance, meaning that the Series X and PS5 are pretty much the same when it comes to multiplatform games and the days where "Game XX is better on Console XX" are finally over. Plus if you're into Call of Duty, Microsoft bought the studio so in a few years it's possible it will be an Xbox exclusive franchise.

Xbox also has Gamepass subscription, which allows you to "rent" a ton of games so long as your subscription is active. Many kids or gamers on a budget will get a Series S and a Gamepass subscription and barely spend money on buying games because of the huge library. Both Series S and X are also widely available in Malaysia.

I feel terrible typing a glowing recommendation for Xbox because I'm a HUGE Sony fan since the PS1 days and have never missed a PS console until the PS5, as Sony seems to be offering less value for money and relies strictly on branding (so many people are obsessed with getting the PS5 because it's trendy) and Sony is capitalizing on that. Xbox on the other hand, is easily available, has two options of a premium and cheaper console, has a crazy amount of games if you have Gamepass, and runs the same multiplatform games as the PS5 at the same framerates and resolutions. For value for money right now, Xbox wins easily.

I think series x is a good alternative for ps5, it may be better but I don't think xbox wins easily, especially in Malaysia.
I think series S is a good option if you only play games like FIFA. Not really worth it to upgrade from PS4.

Series x is selling for 2.4k from reseller without official Microsoft Malaysia support and warranty. There's no official Gamepass for Xbox for Malaysia so you would need to buy from different region etc. Meaning we are bound to whatever Microsoft may decide in the future. Example like Netflix which originally quite ok with people using VPN but now will try to stop people even sharing account.

What I'm trying to say here is there is some risk involved with buying xbox in Malaysia. It's not all rosy.

Anyway, seems like no one answer TS question.
You can demo PS5 at sony store around KL. If you go during non peak hours, you can play for long time without anyone bothering you. Then you can decide if its worth it to pay around 3k of scalper price for it in many reseller shop.