Sony has released a PS Plus Collection for playable PS4 games on the PS5, however, it can only be redeemed to play on a PS4 through a PS5 console.
PS Plus Collection is a new initiative that is given to the subscribers of PS Plus. It offers a curated collection of games for those who have purchased a new PlayStation 5 and have an active PlayStation Plus subscription. There are more than a dozen games included in this collection including many of the blockbuster PS4 games.
Sadly, to redeem and play these games on the PS4, one needs to have the actual PlayStation 5 console. We can confirm that once you have redeemed the games on a PlayStation 5, they show up in the games library on the PS4.
For those who missed it, here is the complete list of games that were added to the PlayStation Plus Collection. All of them can also be played on a PS4 only once they are redeemed through a PlayStation 5.
From Worldwide Studios:
From our third-party publishers and developers:
However, there is still some good news for those who don’t have a PlayStation 5 yet. They can get the free game Bugsnax for their PS5 even if they don’t own the console as of yet. So while the PS Plus Collection is currently exclusive to the PS5, this doesn’t apply to the free games offered for the PlayStation 5.