I think there are already a couple games that will automatically see a PS4 save and import it to PS5, whereas before you needed to do the ridiculous process of having both PS4 and PS5 versions of the game installed to transfer.
Yes you can replace. You should contact first Xbox support team. Btw if you are facing issues with your SSD then I recommend you to first go and check this guide called Xbox Error. This have solved my issues with the Hard drive. Let me know if you need any help.
