Error Response: Please install the latest system software

Solution: Install the latest PS5 firmware update to continue as normal. Unplug your PS5 and plug it back. To turn on the PS5 into Safe mode, Press and Hold down the power button on the Playstation 5, until the console beeps twice. Connect your controller with a cable and select "Rebuild Database". If this doesn't solve your problem, try contacting Sony directly or a video game repair shop for further help. Please post below if you were able to solve the issue yourself to help others.