Since you have bought (it sounds like the carrier unlocked version from Apple) you will need to call ATT. Though you can use your old Sim and the new iPhone will work it will not get 5G. You have to call or come in and they will have to flip a switch in their software. Now its possible they have fixed the issue since the initial rollout. The way to tell if TRUE 5G is available is NOT looking at the top of the screen. Instead go to Setting, Cellular, Cellular Plans, Voice & Data. If you have the 5G switch you are good to go. If you don't have the 5G switch call ATT. Power off the phone and wait a few minutes and power back on and you should have the switch to enable and disable 5G.
Heres some bad news in Atlanta, GA 5G is slower than 5G so I have had to disable. I have read this is currently not uncommon across the country.