I also have a Panasonic Plasma, just with TOSLINK instead of electrical S/PDIF. Works fine with my DD / DTS AVR. So I pretty much have the same setup like you. I go RPi HDMI -> TV and TV TOSLINK -> AVR. That should also work for S/PDIF.
Don't bash me please, but isn't S/PDIF the same with TOSLINK?
Indeed this is a TOSLINK (optical) interface and not a coaxial. My tv model is (again IIRC) TX-P50UT50E, dated 2012ish or something.
Connection of my Dell to the TV is made over the non-ARC HDMI. And from TV over toslink to the Yamaha A2.
In your setup are you able to pass-through DD 5.1 data from the RPi to the TV and then to the amp? Whenever I try that I don't get any sound at all on the other end.
AFAIK RPi does nothing special compared to a pc, apart from doing CEC and stuff (which should not be relevant in this case at all). What sort of debugging from SSH could I do to check things up? I really hope that having a similar TV/setup you might be able to help me out.
In the meantime I was looking solutions from aliexpress like these one, but don't know if they do the trick:
* https://www.aliexpress.com/item/32955530378.html
* https://www.aliexpress.com/item/4000244824209.html
<off topic>Who should I contact to check why I do not get email notifications on thread answers (even though the relevant option is enabled)? </off topic>