PS4 Slim Doesn't turn on, turns off instantly after a beep

I have checked the power supply, when I turn on the console it gives 12-13V then it drains/ lowering back to 0 drastically.. Meaning it cannot continuously supply 12V to the PS4, any idea how to fix it? Had to replace the old PSU back in 2017 because of this and this is the second one with the exact same issue.