I believe it does, I have heard you need to turn off 120hz mode in your console settings first, get the PS5 to register 1440p and then turn on 120hz.
I have done this with a PS5, however the image quality suffers greatly at 120hz mode. YMMV
Correct, it looked awful to me.
It depends on the game and your monitor. On a HDMI 2.1 TV it looks fine at 4k 120Hz.
Some TV/monitors result in the output being downgraded to 1080p 120hz, which is going to make the picture look worse if your monitor is then having to scale that 1080p back up to whatever the native resolution is. That may happen on your 1440p monitor if it and the PS5 are unable to negotiate 1440p 120hz properly.
Have a look here, this does seem to suggest that it supports it:
Best Monitors For PS5/PS5 Pro - Fall 2024
The Samsung Odyssey OLED G8/G80SD S32DG80 is the best monitor for PS5 that we've tested. It's a high-end 4k, 32-inch monitor that's incredible for gaming.www.rtings.com
MSI Optix G273QF Review
The MSI Optix G273QF is a great gaming monitor. It has features most gamers would look for in a monitor, like FreeSync support, G-SYNC compatibility, and a 165Hz...www.rtings.com