If PC is an option, I would recommend over both.
From PS5/XBox, I would say the Xbox is better value. The game pass offering is very good, especially with COD now being available, and the Bethesda games.
The PS5 has the better exclusives (Spider-Man, Ratchet & Clank, The last of us etc.) but they don't release every year, and if you have a PS4, you've probably played them already.
3rd party titles can be played on both, so that makes no difference really (maybe the PS5 remotes features are important to you).
The other consideration, is the use for it. If it's just a pure gaming machine, then make your mind up with the games, but if it's a 'media console' (e.g. games, films etc.) then the Xbox has better sound/vision connectivity (such as Dolby Vision etc.). The PS5 only supports specific HDR settings.