Two things to consider.
- Is your play time limited?
If yes, stick with the PS5 since there's some games that you're looking forward to.
- Are you planning on getting it when Halo Infinite comes out?
If yes, it's very likely that there won't be a price drop and you'll already have the system. If you already sub to GamePass, there's plenty to enjoy with it.
I'm personally getting both, I'm only getting the PS5 at launch for Spider-Man: MM besides that, at least at the moment the other game that has my attention is God of War: Ragnarok which will be a while before it comes out. I could wait, but might as well have both in case something good comes up in the meantime and you won't have to worry about restocks in the case they keep selling out for a while.