Will an HDMI splitter be able to be compatible

Basically I have a gaming monitor that I use for PS5 gaming but also as a second monitor for a PC. Its super frustrating that it only has one HDMI cable as that's the only way to play PS5 and display a second monitor (I tried USB C plug but no visuals).

By purchasing a splitter, will I be able to navigate between my PS5 and PC without having to plug and unplug which I want. I'm sure it will plug in just fine but idk if most TVs are smart enough to realize a splitter is plugged in considering it was just designed for one HDMI input. Here is a photo of inputs in case this helps. I just don't want to buy a splitter and not have it work. Thanks guys!!