Can the PlayStation 5 play PlayStation 4 games, and if so, how does backward compatibility work?

[Scorpion]

Can the PlayStation 5 play PlayStation 4 games, and if so, what is the mechanism behind its backward compatibility? Are there any limitations on which PS4 titles can be played, and do performance or graphical enhancements occur during gameplay?

[killamch89]

Yes, the PS5 is backward compatible with the majority of PS4 games. It employs advanced emulation and hardware optimization to run older titles smoothly, often delivering improved load times and performance enhancements while retaining the original gaming experience.