I would say just wait until black friday and get something better. You can search for open box deals, would be your only other choice from authorized denon dealers, you get full coverage warranty.
But yea if you want your 4k/120, you would probably need to go with the 2020 models.
Honestly, I dont think it's worth it for you to do that, I was going to get the 4400H, which is great if you want to save money. it falls behind on a lot of the newer models, but for me I stream a lot of my media. If you are streaming you get whatever your TV can put out. The receiver doesn't limit your performance.
I believe if you just connect your system to your TV and getting the ARC, the AVR will reproduce the sound of your system(ps5) out of the TV into your speakers. I maybe wrong
My situation is worse than yours, my tv is 4k/240. So no matter what I get it's going to run the 120, which isn't bad. A lot of things aren't 240. But that's why I was going with the 4400H.
I got lucky and found a marantz open box for 1100 off, it was only missing the audssey multi eq and purchased that from marantz.
That's why I said look around.
Also, you may want to consider the little lower line, Denon S750H. Cant vouch for the performance, but I can say I assume you dont have crazy expensive speakers. They provide the 8k/60 and 4k/120 I believe at a much more affordable range.
Not an expert, I just barely got into home theater within the last 6 months. I would probably suggest and think not running more than 5.x on those smaller receivers regardless of what it says. The savings is in components
I got a deal I wouldn't even get at black friday. Some people suggest Accessories4Less website, but I got my receiver for 200 dollars cheaper than that refurbished unit and a full 3 year warranty. *Purchasing from an authorized dealer even OB
I think patience is key. Wait to get better unit for the same price you were planning on dishing out now. ~40 days away