This video really shows the separation between fan and coil whine. You hear the fan at the beginning, then the coil whine kicks in.
This is my PS5 exactly. I'm not that bothered by the whole thing. It's noticeable, but not so loud that it can be heard over the tv sound or when wearing headphones. I'll admit that I wish it was whisper quiet, but I'm not considering trying to have it replaced or anything like that.