According to the official PS5 landing page on PlayStation, PS5 features a “Game boost,” stating that players can “Enjoy faster and smoother frame rates in select PS4 and PSVR games.” This appears to be in relation to statements made by Sony earlier this year regarding how backward compatible titles could take advantage of the advanced PS5 specs.
The PSVR can be used on PS5, as can the PS4 Camera, though you’ll need an adapter that is free for PSVR owners. As yet, Sony has not explained how PSVR owners will acquire this free adapter.
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Hopefully we’ll get a list of games that can be improved running on the next-generation machine soon. The PlayStation 5 is set to release on November 12 in certain countries, with a global release on November 19. Preorders are open now, though it may be difficult to grab a console.