[RESOLVED]
I am using a codable struct which stores the object values retrieved from an API call so I have amended my TextField using Cenk Belgin's example, I've also removed extra bits I've added in so if anyone else is trying to do the same thing then they won't have pieces of code from my app that aren't required.
TextField("Product Code", text: $item.ProdCode)
.onReceive(item.ProdCode.publisher.collect()) {
self.item.ProdCode = String($0.prefix(5))
}