I saw this morning that Titan Two released a workaround for initial Playstation 5 support here:
https://www.consoletuner.com/forum/viewtopic.php?f=27&t=16773As a Titan Two owner this got me wondering if this would also allow me to use my XIM Apex with the Playstation 5 now. As it turns out it does!
I just tested with the latest Titan Two and XIM Apex Beta firmwares and was able to play the Playstation 5 version of Black Ops Cold War in 4K Ray Tracing with the XIM Apex Playstation 4 translator. Everything works great with the exception of the re-authentication for the controller being a bit disorienting every 7 1/2 minutes. For slightly less than a second you'll get a message that the controller disconnected and then re-connected. While annoying this hardly breaks the experience though. Based on the Titan Two firmware notes it also seems we'll have a workaround for this shortly with the purchase of specific controllers.
For my testing I connected everything to the XIM Apex as I would have normally using a Playstation 4 controller, and then plugged the XIM Apex into port A of my Titan Two. The Titan Two then goes to the Playstation 5.
Enjoy!