The best solution I’ve found is an HDMI matrix. If all you need is to connect your HDMI devices to the TV and an older receiver, get a 2x2 or 4x2 matrix, have one of the outputs go to the TV and one to the receiver. This solves the problem where the TV supports newer HDMI standards than the receiver.
Now if the receiver is old enough to not have HDMI at all, there aren’t too many options. S/PDIF from the TV to the receiver works, but is lossy above 2 channels. HDMI audio extractors work, but most suck. I had a monoprice one for a few years that was decent, but not great. There aren’t any other options than that though, unless your sources have discrete channel outputs (an RCA jack for each channel), which these days are effectively non-existent.
Now if the receiver is old enough to not have HDMI at all, there aren’t too many options. S/PDIF from the TV to the receiver works, but is lossy above 2 channels. HDMI audio extractors work, but most suck. I had a monoprice one for a few years that was decent, but not great. There aren’t any other options than that though, unless your sources have discrete channel outputs (an RCA jack for each channel), which these days are effectively non-existent.