Apple TV has become glitchy and slow to respond after update

My Apple TV 4 k 2020 has never been right since the day I got it, never seemed an upgrade. Anyway recently it’s been really glitchy, menu really slow to respond and Apple Music last night kept freezing, also getting notification it couldn’t connect to airplay. Randomly it will also indicate no WiFi connection. Is a factory reset my best option here? Running latest software etc. thanks

[Re-Titled By Moderator]