According to Tom's Hardware, a project called ProsperoEden has adapted the open-source Eden Nintendo Switch emulator to run on a jailbroken PS5. The early alpha is available as a free download from GitHub and works only on specific PS5 firmware versions, with most testing done on firmware 6.02 and some builds working on 12.70.
Compatibility varies widely. Lighter titles such as Cuphead and Metroid Dread reportedly run at at least 40 FPS, while Mario Kart 8 Deluxe and Hollow Knight achieve similar results. At the other end, The Legend of Zelda: Breath of the Wild is described as unplayable, and Animal Crossing: New Horizons runs at around 15 FPS with major issues. The emulator currently relies on OpenGL, as no Vulkan renderer is available, which may explain some of the inconsistent performance.
The project is in active development, and the latest v1.000.010 release includes improved game loading, fixes for Metroid Dread and Super Mario 3D World, and better OpenGL rendering. It supports DualSense controllers and game saves. However, the source notes that Nintendo has a history of removing emulation projects from GitHub, so the download may not remain available indefinitely.