First of all, LG7500 doesnt have IPS panel, its having VA panel. VA panel known for good black but not good for viewing Angle where as IPS panel mainly known for viewing angle as well as for brighter Room, IPS panel always recommended.
And for PS5, go for Any L series of Sony , specially x75l,x80l,x85l which has hdmi 2.1 for ps5.
If you have budget go for sony or Samsung.
Hisense and other budget tv only have bad After sales Service quality.