Developer outs world's first PlayStation 5 emulator, albeit without working video output
Developer InoriRus recently released Kyty, an in-development emulator that aims to run both PlayStation 4 and PlayStation 5 titles. Kyty's initial 0.1.0 release is out on Github right now. While it technically can emulate PlayStation 5 functionality, it's important to keep expectations in check. Kyty currently doesn't support commercial PS5 games, nor does it output video.
The situation is a bit better with PlayStation 4 emulation, however. Kyty can run a limited selection of commercial PS4 titles, including Worms WMD. Framerates weren't that great in a video showcase of the emulator. At both 720p and 1080p, Worms WMD maxed out at around 15 FPS. This could be due to hardware bottlenecks - the developer ran Kyty on an aging platform sporting the GeForce GTX 1050 Ti and i5-7400.
While Kyty clearly has a long, long way to go before running Demon's Souls Remake at 4K/60, it is in active development. It'll be interesting to see what functionality and performance optimizations InoriRus implements over the coming months.
Check out the Sony PlayStation 5 here on Amazon.