Documented by Twitter account @GmanLives, if you manage to clip through or go out of bounds in the PC version when you're at the Silent Hill Ranch, the sign can be spotted inside an abandoned warehouse along with other bits of garbage and discarded wood. Please see below:

The Silent Hill 2 PS5 remake has received its first professional review just as copies of the game started appearing in the wild. Unknown retailer(s) seem to have broken street date, causing spoilers to appear online.

If you're waiting on the Silent Hill 2 Remake release time to know precisely when you can dive into Bloober Team's remake of one of the greatest horror games ever made, well, I'm right there with you, and I have that information to share with you.