Yes, PS5 can play PS4 games, and in many cases, they run much more smoothly than they did on the PS4. PS5 utilizes "Game Boost" technology, which can offer improved or more stable framerates, as well as faster loading speeds, in some PS4 games. Additionally, PS4 games can take advantage of some of the PS5's new UX features, such as the DualSense controller's haptic feedback and adaptive triggers.