This isn't entirely accurate either. At least not entirely complete.
Yes, if you wrestled that year you are able to get a fifth ACTIVE year.
But if you red shirted that year, you are able to get another red shirt year.
The covid year means that it doesn't count against your NCAA D1 clock. 2020-2021 is a bonus year. From an NCAA (not necessarily an Ivy League-or any other conference or school) eligibility standpoint, the college year 2019-2020 is immediately followed by 2021-2022. If you think of it this way, all the other rules still apply.