Backwards compatibility on the PS5 works similarly to how it worked on the PS4. You will be able to play physical discs and digital downloads of PS4 games on your PS5 console. However, there are a few things to keep in mind. First, not every PS4 game is compatible with the PS5. Second, you may need to download a free update from the PlayStation Store in order for your game to work properly on the new console. Finally, some features from the PS4 version of a game may not be present in the PS5 version (e.g., 4K resolution or HDR).