There's no answer to that, really. It all comes down to personal tastes and you have to find what console has more features that you particularly care about. I'll give you my personal opinion and why i would choose one over the other, if it helps.

In my case, if i had to pick one console i would get an Xbox. It has actual backwards compatibility to all xbox systems, you can easily put emulators on an Xbox to play pretty much every console until the ps2/gamecube era, gamepass offers great value and i don't care about Sony exclusive games, so if i didn't already had a pc, i would get an xbox. And i do have gamepass on my pc, and i'm having a blast with all the games available there.

I wouldn't get a ps5 because i don't care about the exclusive games on a PS5 and that is the biggest reason to get a PS5. The console doesn't provide good live services as the xbox, the "backwards compatibility" for consoles older than the PS4 are emulated and said emulation is hidden behind a paywall and the overall quality of the emulation is terribe ( see Legend of Dragoon , for example) and since i'm the kind of guy who enjoys older games and sees value in backwards compatibily, and doesn't care/like the exclusive games sony has to offer, i see no reason to get a ps5 because i can't see value on anything it offers.

So you should consider the pros and cons of both consoles to reach a final decision.