Want to change a Duplex to a modern USB outlet

Hey there, for reference I'm not knowledgeable at this, I've changed outlets before, just never like this one before.

I wanted to change my Duplex on my bedside to one with usb connections. Upon removing the lid and pulling out the duplex, I was met by 5 wires, 1 white wire, 2 black wires, a red wire and a naked copper wire.

I understand/believe the bare copper wire is ground, white is neutral, the black wires are hot and the red wire, from what I've seen is also hot. On other forms or YouTube videos people say it's for the switch that's connected to the outlet. I want to know what do with the wires that I don't need anymore, or if I can even change out my Duplex if all the wires are needed.

The new outlet only has 3 connections for the white, black and ground wire. What do I with the rest, just cap them off? If anymore info is needed, I can try my best to answer, though I'm not that knowledgeable when it comes to terms.

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Mel
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