The a7 V is quite a predictable upgrade, nevertheless it's excellent. It does however miss a lot of video features that are present on the Panasonic S1 II / S1R II for a similar price, and the cheaper Nikon Zr / Z6 III... No open gate, no anamorphic, 4K is still maximum resolution, no real-time LUT can be baked into footage, and of course Sony still has no internal RAW codec to call their own.
Still, this is a $3000 entry level camera so we can't be too greedy can we?
Compared to...
Sony a7 IV. The previous a7 IV is now even more of a bargain, it will probably go down even further in price used, most likely to region of $1200. Stills quality the same as a7 V and probably more than most people will ever need. Video quality is excellent but the rolling shutter is on high-side, that's one area as well as the Super 35mm 4K/120p where a7 V has an advantage.
Sony a9 III. Well, keep an eye on that used price as it's already not a million miles off what a new a7 V costs...
Sony a1. Again, the more powerful option vs a7 V albeit with a few of the new features missing, you can pick one up used in the UK for £2700, same price as a new a7 V.
Nikon Zr. THE choice if you want fake raw.
Nikon Z6 III. Much more price competitive than the new Sony.
Panasonic S1R II. The dark horse. It does more. Price is high though and I much prefer the Sony body design and build quality.
Panasonic S1 II. Certainly has the edge on the a7 V for video, if not autofocus. More expensive, but again keep an eye on the used market prices.
Overall I think the a7 V is predictable - it's good that we have another partially stacked sensor option though.