The PlayStation Link USB adapter is specifically designed for lossless and low-latency audio connection with compatible PlayStation headsets such as PULSE Elite™ wireless headset or PULSE Explore™ wireless earbuds. It does not support general Bluetooth connectivity for other headphones such as the AirPods Max. To connect AirPods Max to PS5, a special Bluetooth USB adapter that supports Bluetooth audio and is compatible with PS5 is required. The PlayStation Link USB adapter from Sony is not suitable for this.

The PlayStation Link™ USB Adapter is designed to provide an ultra-fast, lossless wireless audio connection with compatible devices including the PlayStation®5 console, PCs and Macs®.  With regard to the Sony XR-55A95K TV, the technical specifications indicate compatibility with Bluetooth® profiles such as A2DP, enabling the connection of wireless audio devices.  However, there is no specific mention that the PlayStation Link™ USB adapter is compatible with this TV. Therefore, it is unlikely that the PlayStation Link™ USB adapter will work directly with the XR-55A95K TV for audio streaming. For a wireless audio experience with this TV, it would be best to use devices that are compatible with the Bluetooth® profiles supported by the TV.

The USB adapter is only designed for the PULSE Elite wireless headset & PULSE Explore wireless earphones.

I tried this, but unfortunately it didn't work for me.

This is to connectf Sony’s new Pulse headsets to your PS5, PC or Mac. However some new headsets might be compatible with their proprietary wireless connectivity.