The PS5 version has some crisp visuals and better frame-rate but it still has floating people, vehicles that forget about collision detection, crappy AI, cars that drive on rails, horrible pop-in effect, and gunfights where you can't take down some pissed off guy on the street without 50 direct headshots.
As for the story; I chose the corpo path and within 15 minutes of cutscenes and limited movement "gameplay" I'm on the street as some punk, never getting to experience anything close to what was marketed as the corpo path.
A few hours in I began to get lost in the world and enjoyed the advanced gameplay mechanics. They really went all-out with what you can do in the game, but then once the cinema-quality quest is finished I'm thrown back into the sloppy unfinished open-world.
Because it's a PS4 game. There isn't a PS5 release.
I assume software I buy runs on the hardware it's designed for.
Edit: what could be is that they just didn't build a data collection pipeline for this seeing as how they didn't do half of the planned stuff
Now, it seems to end up in the same category as Dragon Age: Inquisition on the Xbox 360; possibly playable after a few patches, but nowhere near a state which makes the game justice.
And then they repeated that they have no way of knowing which platform you're actually playing that last-gen version on - so people playing the PS4 game on the PS5(where the game runs absolutely fine) still count as PS4 sales.