My wife's S20Ultra says 5G while we're at home, but my Unlocked Note20 Ultra still only shows LTE with about 3 bars... The screenshot is from Sept. At the Airport where I get 5G UWB... The "5G" At my house is not the same... It's basically 4Glte
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Are you using an old SIM from your previous phone or did you get a new SIM with the new one??
(EDIT: I just realized you are with Verizon and my experience is AT&T... but maybe the same issue with old SIM)
I wasn't seeing any 5G even though my daughters new 12 Pro was so I just popped in a new SIM got my 5G working.
I've had my N20U since launch but didn't upgrade my plan until last week. I was happy to leave it be because locally I can get 100 Mbps range with highs in 300+. But I got my daughter an iPhone 12 Pro and it was actually cheaper upgrading the the Elite plan so we did.
I thought 5G was limited in my area cause it always shows 5Ge and not a lick of 5G around town after the plan upgrade but my daughter told me hers says 5G everywhere!
So I went through chat support and in the end, swapped my SIM with the new one that came with my N20U. I actually didn't see the new SIM in the box I was so excited when I got my phone so I just used the SIM I had in my Note 8... which I also used as far back my iPhone 6S?? 5-6 year old SIM??
Had a few hiccups when they were assigning the number to the new SIM but once we got that sorted out... 5G signal immediately from my home!
I'm kinda cringing right now because quick speed test shows like 20 down and... 1 up from home

with no way to toggle 5G off. But I'll cruise around and do some testing. I posted they have been installing millimeter wave towers outside my neighborhood and it's a few thousand feel away from my house so we'll see.