I bought a Series S for the same reason as OP. PS5 is my main console and Series S I mostly use for Game Pass.
I've owned my Series S for a year and I can't think of any problems that would make me hesitate recommending it to someone as their secondary console. Forza 5 and Halo Infinite look and run great to my eye on my LG OLED. Saving $200 and some shelf space is a big win IMO. If you're cool with less storage and no disc drive, I say go for it.