The Panasonic DP-UB9000 is probably the highest quality Blu-ray player commercially available now. But if you do not feel a pressing need to upgrade from your Ayre to the Panasonic, you could use something similar to the following product with the HDMI output of your Ayre dx5:
avedio links HDMI Switch Audio Extractor
There are many competing products listed on Amazon with slightly differing functionality, so you might do some research and read user reviews on Amazon. I bought the listed model in August of 2019, and used it for many months with no video or audio hitches. However, I was using it inserted into the HDMI link between a 1080p Sony S6700 Blu-ray player and a 10-yr old 1080p Sony Bravia TV, and using the avedio links' TosLink optical output to get 2-ch stereo out to an aptX HD Bluetooth transmitter (I listen using earphones plugged into an ES100 BT receiver clipped to my shirt). I have not used it with my new 4K Blu-ray player and new 4K TV (I now use TosLink output from the TV as input to the BT transmitter). So YMMV with 4K UHD - I have no idea how it performs but have no reason to doubt the avedio links would do its job. Of course, it has the requisite HDCP.
@ZolaIII makes a good point about the limitations of getting 2-ch stereo PCM out via TosLink to the esoteric. Limited to 192kHz/24-bit (not a significant limitation on resolution in my mind) and conversion from Dolby 5.1 to PCM over S/PDIF may have to happen either in the Blu-ray player (via menu selection in Ayre DX5 or Panasonic) or in the avedio links audio extractor. However, the conversion is digital-to-digital with high bit-rate TosLink output, and so the output quality should still be high, and the esoteric would provide high quality digital-to-analog conversion. Many Blu-ray discs also include high-bitrate stereo PCM, and if this option is selected via menu in either Blu-ray player, presumably the stored stereo PCM instead of 5.1 Dolby is included with video in the HDMI signal, so no conversion needed anywhere in this case - the stereo PCM TosLink goes unfettered to esoteric DAC TosLink input from Ayre-DX5+avedio-links or from Panasonic.