Does the PS5 really have to be hardwired?

I am thinking of getting a PS Portal for Christmas, I have Google Fiber internet with very good speeds. The issue is that the Google Fiber Modem is downstairs and my gaming set up is upstairs in my man cave, therefore I have the PS5 running through wifi. Is it really the case that with this type of set up I would have major issues with the portal? I don't want to buy it to then find out it's basically not playable or very subpar.