Merged another thread into this one dealing with a slightly different outcome of the same issue. Also changed the title of the topic to better identify the problem.
To summarize, the issue seems to stem from a bottleneck on loading assets (being textures, models or geommetry). It does seem to be worse on PS4Pro and PS5 systems, most likely due to the enhanced settings for the Pro model, which the PS5 also inherits. Installing on an SSD (or a PS5’s internal storage) alleviates, but does not stop these issues, especially on Pro and PS5.
These are the issues now being looked into. There’s no ETA we can share at the moment for a fix, but at the moment this sits as the top issue in terms of priority for PS4 internally.