Official Server Ping Issues after the UE5 Update

Apparently you can try to direct connect to the server or what worked for me was to leave game, restart steam and restart game and my ping was far better. No idea if that works for you but you could try direct connect otherwise.

9999 ping is often happening when servers are restarted. The server I’m on currently is being restartet once per hour at least

From the topic below:
For Exiled Lands servers, you can try to use the direct connect option and enter the IP address of the server. You can obtain the server IP from the game.ini file located in the \ConanSandbox\Saved\Config\WindowsNoEditor\ directory within your installation.