Hello gijs,
Are you still having this issue?
If so what was the solution?
I ask because I am having the same issue with my W5500 workstation GPU.
Windows 10 has horrible driver support.
Pro version use a Group Policy Editor to block Microsoft from downloading AMD display drivers.
Home version use a Registry Editor to do the same.
Windows 10 function to not download software for anything but the OS does not work.
Go to Asrock/support.com find your motherboard and check the BIOS list to see if any version mentions improved support/performance for your hardware/software. Also update your CPU Chipset drivers while your there.
Only use manufacture support sites for downloading/updating drivers.
Disable uninstall or block Discord in the process of fixing your build it is known to cause issues with AMD driver download and installation.
Only download AMD drivers from AMD/support.com.
Your Corsair 550 watt PSU may barely be meeting minimum system power requirements. I'd advise looking into that. Most PC building websites have a wattage calculator for builds and they give a decent approximation of your builds power requirements. This usually won't include overclocking and the increased power draw.
Thank you for providing detail build info that really helps us find potential solutions a lot easier.
I got about halfway through this reply then realised the original post is from 2020, not sure why it bounced to the top again. So I'll post what I'd already written but I won't go any further. Maybe others with similar problems will find it useful.
PSU power wouldn't stop the drivers installing though. It'd only be a problem once gaming. And honestly, I suspect a decent 550W is enough to cope with a 5500xt. Sustained usage on Furmark is only pulling 134W.
https://www.techpowerup.com/review/asrock-radeon-rx-5500-xt-phantom-gaming-oc-8-gb/31.html
Ditto on the Windows AMD drivers. It sounds like it's not detecting the card properly. Windows would install their last WHQL driver if it was detecting properly. Have you checked in device manager to see if the card appears there and what it appears as? I'd also look in the bios and see if it's detecting the card. Not sure about that mobo but mine the bios literally tells me what video card I have and even gives me fan speed and temps on it.
If it's a custom build (ie: you built it yourself) I'd be looking at a couple other things too. One did it need an extra power cable plugged into the card (a PCIe cable I assume) and have you done that? I'm assuming it needed at least one, maybe two depending on the manufacturer.
Try reseating the card as well. ie: just pull it out and put it back in again, making sure it's a good firm connection. I've seen it on occasion where the GPU was just not quite seated right.