If you untick 120hz it automatically goes to 60hz quality mode. That now runs unlocked on ps5 pro so if you have a vrr display you get better quality at 90-100fps.
It's actually less necessary in VR, your FOV is typically more narrow and your focus is more like real life so SSR is fine as you're not typically looking at the wider area and noticing that reflections disappear when outside of screenspace.
I'm playing Horizon remaster it while it looks great I switch over to the forbidding west and just walking around in the dlc and damn how is this possible on a console? Its like a gen ahead.