iPhone not connecting to 5Ghz wifi network after update to iOS 16. HELP!!!

I’m having an issue which apparently many people aren’t having. I have an iPhone 13 Pro Max and I use an apple extreme base station at home with separate SSIDs for 2.4 GHz and 5 GHz. My iphone always used to be connected to the 5Ghz network because the apartment has a lot of 2.4ghz interference. Anyways, after iOS 16 update, whenever I go out of the apartment and come back, the iphone could not see the network in the available networks list and hence didn’t connect to it. A force restart usually solved the issue and it was able to connect to my 5Ghz network after the restart instantly. I also have a CarPlay device in my car which only runs on 5Ghz. So every time I had to force restart the iphone to make it work.

After iOS 16.1, I was really hoping that this issue would have been resolved, but to my horror, it has become worse now. I force restart, the iphone sees the 5Ghz network and connects to it and then disconnects in under a minute… so basically, I can no longer connect to my 5Ghz network at my apartment and similarly, my CarPlay is now useless. My wife has an iPhone 12 and that iphone has the same issue, so its not my iphone. Also checked with a cousin and he’s having the same issue as well but surprisingly, I cannot find anything on this on google or reddit.

The trouble shooting steps I’ve already followed are, 1. Reset all settings, 2. Reset all contents and settings and 3. Reinstalling iOS via iTunes and setting up as a new iphone without signing into my Apple ID. Nothing has worked. Also tried to chat with apple support but those guys are clueless.. I don’t have an Apple Store in my country of residence so going to a Genius Bar is not an option for me. Need help solving this issue please.