Sony has rolled out PS4 system software update 12.02, the patch notes for which are brief but pretty telling.

Sony's Q3 2022 earnings results suggest that a large portion of PS5 players are entirely new, never having had account activity on PS4.

And the video shows that only 8 of the 23 upcoming games will be released for both PS4 and PS5. Moreover, all of Sony’s exclusive titles (i.e., Spider-Man 2) will be published exclusively for PS5.