Just wanted to put this out there in case it helps anyone else. I have been having serious head tracking/wobbling issues with my PSVR2 for a month or two now. I haven't gotten to play much at all, so it's hard to say exactly when it started, but it has been at least a month if not two, and started when playing Red Matter and got a little woozy, and eventually noticed that as I turned my head, there was a slight "wobble" or shift, which needless to say is not cool in VR and makes for a nauseous experience. I didn't think much of it, kinda weird, and over the last while have sporadically tried a few other games (mostly Pavlov), and notice the same thing, happens in menus and everywhere, turn my head and there is a slight zoom in/out, and in Pavlov when holding gun it will float away for a second and come back, which makes it pretty hard to play.
Anyway, I did multiple re-calibrations of headset, redid play area, adjusted lighting, and nothing helped. I eventually backed up all of my data and games and did a complete factory reset on the PS5, restored all of my stuff, and voila, PSVR2 is back to solid! So yeah, doesn't seem to be very widespread as I searched for answers, but wanted to put it out somewhere in case anyone else is having the issue. I was pretty bummed and was getting ready for a warranty battle with Sony or something, but so far so good and it's great to be able to play again!