"The code execution cannot proceed because bink2w64.dll was not found."
No. bink2w64.dll is a Windows-specific library. Console versions (PS5, Xbox) use a different media pipeline.
To understand the fix, you must first understand the culprit. The file is a dynamic link library (DLL) file associated with the Bink Video 2 codec, developed by RAD Game Tools (now a part of Epic Games).