There are two separate issues, as far as I know.
5G is often slower than 4G unless you are in 5G UWB. Here’s why from 9to5mac:
[DSS 5G] reuses parts of 4G channels for 5G. Phones will automatically prefer a 5G network over a 4G one, so Verizon customers will see that coveted 5G icon pop up. But it’s all for show. Our most recent tests, using an iPhone 12 Pro in New York City, show that DSS 5G is frequently slower than 4G, and rarely faster. These results are similar to what we saw in October in Chicago with a Pixel 5.
Another issue, which people on different carriers are facing, is that with some models of the iPhone 13, even with 5G turned off, you could have a great 4G signal and have virtually no data.
I have been taking screen shots of this when I find such an area:
Here I had four bars of 4G and barely any data.
So I agree, the first issue is with Verizon, but the second issue seems to be an iPhone 13 issue.
I just upgraded to iOS 15.1 and I’m hoping this issue was addressed.