for what its worth I wouldn't buy a PS5 right now. It still has issues. I've been playing Demon Souls and Sack Boy and COD on it since launch. Zero issues till friday, when I decided to hook up my USB hard drive and move Just Cause 4 to the USB since i wasn't playing it and it was sucking up space on my SSD. Moved no problem, then I started playing Sack Boy, game crash and froze my PS4 on a black screen. The alleged "brick" I've seen people talk about. Waiting a few minutes and cold booting, it sat on a black screen for 5 mins but I knew it was just repairing SSD/USB drives, eventually came back - I think forcing a power shutdown during repair fucks you up even more which is the problem a lot of people have, forcing system reset etc.
For 10 days I had zero problems with no USB drive attached, the minute I reattached my drive problems all over. Keeping it disconnected again for now until Sony confirms a firmware fix. A few other people in discord have corroborated it, no issues with no USB drive, crashes every now and then with it. So yeah, don't use a USB drive for PS4 games for now, its no bueno.
I've had the exact same model (8TB WD) usb drive attached to my Series X since launch no issues at all.
I do like the PS5, Demon Souls is great and every PS4 game is running fantastic on it, and I bet even without next gen enhancements Cyberpunk is gonna run great on it.