Besides standardising NVME storage for games to rely on, I'm the most excited about SONY's HRTF [1] implementation for the PS5 [2]. It's something I've been waiting for years for someone to implement for computer games, and it could be a game changer for audio. Listen to this [3] with good headphones to see (well, hear) what I'm talking about, better with higher volume.
[1] https://en.wikipedia.org/wiki/Head-related_transfer_function
[2] https://youtu.be/sSmWIR-D6ro?t=2526
[3] https://www.youtube.com/watch?v=WYdIidUIbAs