Lower ray tracing resolution, slightly lower quality shadows and different AO on the PS5 but higher resolution:
Both John and Alex seem to think the changes for the PS5 version are favourable in a lot of cases but as a whole the situation is subjective.
For framerate, 30fps on both. They've improved the frame pacing issues that were in the original Xbox Series version at launch, that problem is now mostly gone but there are some scenes where it will drop frames. The PS5 version has inherited the launch frame pacing bug from the Xbox version - Alex said Blooper need to address and fix that because it's actually a solid 30fps if not for the inconsistent frame pacing.
The load time problem for the PS5 version is still yet to be fixed - not using the available API's for loading.
Let the games begin.