Yes - PS5 physically can’t microstutter (unless there’s a specific game glitch that happens in a unique situation, which is always reproducible). What you felt is simply the non VRR 120Hz version, which is bugged but at least it’s known behavior.

That initial step from 120 to 60 really takes a while to get used to. It feels as if something is wrong. Microstutter? Excessive ghosting? It really feels like some frames are skipped or dropped initially.