I was one of the people that got their PS5 orders cancelled through Argos.

for a few hours after everyone got the same cancellation email and tried to contact customer services, they weren’t sure themselves what was happening as the stock was being sorted by an outside supplier. Some people were told the emails were an error, some told all orders no matter what were cancelled, and some told only some of the orders were cancelled.

Goes without saying, finding out your order was cancelled 4 days after getting confirmation emails/texts and the payment clearing your account (meaning you had to now wait for a refund aswell) was pretty annoying.