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UPDATE – PT Won’t Be Backwards Compatible On PS5 – PlayStation Universe
Konami has confirmed that P.T. will not be backwards compatible on PS5, meaning that the game is stuck on PS4 consoles that already have it installed.

Update 19/10 21:57 – Gematsu has pointed out that the statement from Konami only refers to not being able to download the game from the PlayStation Store and that it can be transferred to PS5 via data transfer. However, we don’t know if the game will run properly, so right now we can’t be sure that the game will be backwards compatible or not.
That being said, you should be able to transfer P.T. to PS5 without issue. Whether it runs properly remains to be seen as it was likely not tested by SIE…
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