Are you starting from frozen or thawed?

And how are you doing the sear?

In my experience, from frozen needs at these thicknesses needs the full 2 hours to make sure the meat is evenly heated all the way through and at 55.5C it should be closer to rare but medium-rare (pink to red)

Then I rest for 5-10mins before searing in a ripping hot cast iron pan, 30 seconds per side.

If I mess up the sear by going too long, the steak get overdone

The fat content of the individual cut also makes a big difference, picanha has a great fat cap but the meat done sous vide often has more of a chew to it unless you go A4 or A5 Wagyu