Can't get decent FPS on PS5 pro without screen tearing (LG C4)

I have no option to change the graphical settings aside from enabling or disabling v-sync and HDR. With v-sync off, the FPS is decent but the tearing is horrible. With v-sync on, the FPS make it virtually unplayable. Am I missing something here? I read you can switch between performance and quality, but i can't find that option anywhere. I have an LG C4 for reference.