What could be causing this effect?

[Xenoblade7]

Please forgive me if this is not the correct place for this question. Treat me like I am 5 years old when it comes to this type of things.

I bought a PS5 a few days ago and hooked it up to my monitor, which is a LG 27gl83a-b, and for some reason panning the camera at 30fps causes this strange shimmer/overshoot type effect on the environments. It's not nearly as noticeable on dark surfaces or at nighttime in game, but on trees and well lit rock faces it stands out the most.

I've tried 3 different correct HDMI cords and Response Time from off to fastest. Nothing changes it at all. Switching the game to the 60fps mode eliminates the effect either entirely or to the point where I don't notice it.

I have a video showing the issue but can't seem to figure out how to let me link it.