Sony have drawn a pretty clear line between the PS4 and PS5 and their respective console generations, even with something like accessories. One accessory, however, that it will be supporting as is is PlayStation VR. Recently, some new details have emerged that clarify how exactly PSVR will be hooked up to the PS5.
For starters, the PS5 HD Camera, which comes with dual lenses (and costs $60), will not be compatible with PSVR- it seems it’s meant only for recording and broadcasting purposes. If you want to run PSVR, you’re going to need to the same PS Camera and camera adapter that you need to play PSVR games on PS4 as well.
This was confirmed by Sony initially in a support FAQ, and then recently in a more detailed blog past talking about the PS5’s backward compatibility.
The PSVR games that you do play on PS5 might come with enhancements, with Sony having promised “faster and smoother frame rates” in select PSVR games.