Sony's PSVR platform may still be around for the PS5, but if you're hoping to play next-gen titles in virtual reality, you're out of luck—for now. That's because Sony has confirmed that PSVR only works on the PS5 because of backwards compatibility.
News of upgraded games for the PS5 may have led some people to believe that PSVR support would translate from one console generation to the next. To put it another way, it seemed reasonable to assume that if you could use your VR headset with the PS4 version of a game—Hitman 3, or example—you could do so with the PS5 version as well.
However, in an email to uploadvr, a Sony spokesperson confirmed that there are no PS5 games with VR support—even if the exact same game on PS4 does have VR support. All of that is to say that PSVR will be stuck in the past and won't be getting any upgrades for the PS5—at least not for the foreseeable future.
That means that if you want to fully immerse yourself in the world of Hitman 3, you're going to need to buy the PS4 version of the game. The PS5 version will not allow you to play in VR. It's a confusing way to go about things and will likely lead to disappointment from fans who buy the upgraded version of Hitman 3 only to find that they can't play in Virtual Reality, as they might have expected.
PS5 has a similar situation with the DualSense Controller, which will work on the PS3, but not the PS4. Or, your inability to use your existing PS4 controller on the PS5. Things get more confusing when companies like Ubisoft flip back-and-forth on whether or not their games will work on next-gen consoles. Suffice it to say, your best bet of making sure that everything works the way that its meant to is to stay on the PS4.
Otherwise, it's probably best to assume that only PS5 exclusives will fully function on the PS5. Everything else is (more-or-less) a placeholder that wasn't really meant to be played on the PS5. That being said, there are some pretty great games that were meant to be experienced on the new console—it's just that none of them have VR support.
Source: UploadVR