iPhone 17 Pro Max Side Button Problem

The side button doesn’t seem to be able to accurately distinguish between a long press and a short press. Also, sometimes it gets stuck in long press without me even pressing it, which sometimes randomly activates Siri. You can even see that the button is being registered as press by the animation of the pressed button in the screen.

Any idea why this is happening? How do I fix this? I just got this phone 😭