I too own both. I've had the PS5 since launch, and my Series X since around, geez late May or very early June. I like both as they each have nice features, though I'm not keen on the PS5's ditching certain dashboard features which should have been carried over. Screw waiting for late implementation, if it ever even happens. No ratings on games I own or PSN? Get outta here. One of my favorite things is browsing the Xbox store reading reviews, were some devs will even respond to customer complaints. Plus gifting.
For all of the exclusives on PS5 I haven't completed nearly all of them save for Astro's Playroom which was great but waaaay too short. I love the potential of the controller but its used so sparingly. Both systems do well enough when loading a few microseconds mean little to me. My friends are spread out across systems, but I rarely play with them lately. To my surprise I've been playing on my Series X far far more than I anticipated, which is funny cause I didn't play a single game on it for like 2 weeks when I first got it. But now man, I loaded up the SSD and bought an extra SSD drive and filled that too. So many games, which as a Trophy guy I wanted to play again but want achievement pops lol as an excuse to go through them again.
I have mainly weeb games and Jrpgs one my PS5 now, most of which are all PS4 titles. I get Japanese games on my Xbox when I can to show support there. Honestly they are both great systems and it'd be hard to go wrong with either. Who really has time to play everything? Xbox does BC far better, which has been a blast seeing games I love playing so smooth and sharp and loading super quick. Quick Resume is really great. I love MS reward points, which I can trade for more Gamepass Ultimate or gift card money for more games. I don't even hunt for them and have accrued a bunch more. My controller batteries last longer on Xbox, and I can bounce between AA's or my rechargeables which still work great years later.
Honestly there is no perfect answer. If anything I'd say pc since most companies except Nintendo publish there now. If you want exclusives well each system will have them. I've lost my love for PS's stable lately. I don't want to suffer through another Naughty Dog game ever again. Spooder Man isn't for me. I don't want to GoT again, or Death Stranding for that matter. I know its all preference, and that'll be up to you really. For me the answer was easy, gotta have 'em all! I'm a gamer. Personally I'm more excited for what the future holds for MS(a ton of game genre diversity) and Nintendo + PC. Some features I don't use like Game Tips on PS5. Cool idea but they don't always give me the full info of what I'm looking for, so I still usually resort to guides online. Sorry for the wall of text, just throwing out what comes to mind. And look at the fanboy comparison vids and threads. People arguing over stuff that is barely noticeable save for someone with eagle eyes, its really just freeze-framing and nitpicking minutia. Both are great powerful systems at a great price. My only complaint for both are the small sizes of the SSD's.
I really like both PS5 and Series X and they are both very quiet thankfully.