Unless I'm reading this wrong, it looks like we'll be able to continue to play P.T. on PS5.

Sony just published a list of 10 games that won't be playable on PS5 and P.T. isn't on this list.

PS4 only games

While the majority of PS4 games are playable on PS5 consoles, below is a list of PS4 games that are playable on PS4 only. On PlayStation™Store, PS4 games that are not playable on the PS5 console will be marked with ‘Playable on: PS4 only’.

PS4 only games:

DWVR

Afro Samurai 2 Revenge of Kuma Volume One

TT Isle of Man - Ride on the Edge 2

Just Deal With It!

Shadow Complex Remastered

Robinson: The Journey

We Sing

Hitman Go: Definitive Edition

Shadwen

Joe's Diner

https://support.playstation.com/s/article/backward-compatibility?language=en_US

Anyone else interested to see how P.T. runs on the PS5?

EDIT:
Nov. 6 2020

Konami said no. :(

Do demos count?

I don't know how you'd be able to start the game though? Wasn't it taken off the store and a patch was released rendering it unplayable? I imagine that even if you transfer the game data over, it would still need to connect to the internet once to make sure you have ownership rights or whatever.

However, if I can, I guess I'll try it out once I buy a ps5

I wouldn’t take that list as comprehensive. Also, PT wasn’t a game so much as it was a Playable Trailer.

Yeah I'd guess PT doesn't actually count as a game. Side note: what a strange list of games to have that wont work

My guess is when you do the transfer from PS4 to PS5, the download won't trigger. You need to tap into a proxy server to download it on the PS4 and I don't see the console matching that up.

Yeah, it's weird. Afro Samurai 2 is on that list, and I don't think that game is even playable on PS4 even. They force deleted that thing from my harddrive and removed it from the library altogether after they gave everyone a refund, and I'm not sure that game got a physical release. Not really sure what that means for P.T. which wasn't really a full game.

Wasn't Afro Samurai 2 pulled from PSN? I imagine a reason why that game isn't playable is because that game more or less no longer exists. The reason why an Afro Samurai 2 is not playable is the same reason why P.T. would not. Not sure about the other games, but that one stood out to me from that list.

@noboners: It still works on my ps4, it was taken off the store but I never deleted it and there was no such patch that you mention. I don't know how you would get it on a PS5 and have it recognize/install it properly though.

@terminallychill: Couldn’t you transfer it to an external hard drive and plug that into the PS5? Or perhaps WiFi transfer? I do that all the time between Xboxen, so maybe Sony allows the same.

@terminallychill: Oh yeah, I guess the patch was just rumored. Here is Polygon's article about it from last year: https://www.polygon.com/2018/10/31/18049832/pt-disabled-silent-hills-teaser-ps4

And I saw today that Sony will be allowing people to transfer games from their ps4 over to ps5 via wi-fi/ethernet. So theoretically, that might actually work?

@noboners: @navster15: I suppose that would be possible, I've never done it myself. I guess I'm just skeptical that Sony wouldn't put something in place that would stop people doing that with P.T., but if it treats it like any other game then it might work.

Actually, a LAN transfer would cut out the need for a server check. It still doesn't ensure the PS5 will play it, though.

I'd be interested to know specifics as to why some of these games can't work. I have Isle of Man TT: Ride on the Edge as well the sequel. What does the original game do that the sequel doesn't?

@shindig: It will still need to call home at least once

There is no way Sony will let people run any game on a hard drive without verifying ownership. Otherwise the PS5 would pretty quickly become the best way to pirate PS4 games.

And I assume the TT games are the real answer. It isn't that devs went all out on the original and toned it back on the sequel. It is that the rights holders don't want both games on the PS5 for whatever reason.

Sony has a long ass history of these kinds of licensing corner cases that can only really be explained by awkwardly written contracts that still need to get re-approved. If memory serves, Tomba 2 could only be played on a US PSP if it was the Japanese version? None on a Vita and none on a PS3. Or something of that level of stupid with a Tomba.

So yeah, I am SURE Konami went out of their way to make sure a random demo they no longer sell is on the approved transfer list.

Per Polygon:

P.T. is not playable on PlayStation 5

There was backward compatibility here. It’s gone now.

source

So if you still want to play P.T. it looks like you better keep a PS4 around.

When the apocalypse comes, this will be my 'sealed copy of Puzzle Money Exchanger'.