Sony has published a PS5 FAQ, which confirms that 8K support is coming later. PS Now and Remote Play are supported at launch. Dolby Atmos is limited to Blu-ray bitstream.
The small print
Sony has already detailed most features of PlayStation 5 but the FAQ includes some interesting tidbits. We have included the ones that we found most interesting below:
Dolby Vision is not supported on PS5 for any type of content. HDR10 is supported throughout the system.
4K120 (4K at 120 frames per second) via HDMI 2.1 will be supported at launch, but there is no mention of VRR support in games just yet. However, Sony has confirmed that PS5 will support VRR (eventually?).
Dolby Atmos decoding does not appear to be supported. However, PS5 must support Atmos bitstreaming (to let your receiver/soundbar decode Atmos) for Blu-ray and UHD Blu-ray in order to be compliant (just like Blu-ray in PS4).
3D Blu-ray is not supported, confirms Sony. 3D gaming does not appear to be supported either: "3D stereoscopic output is not supported on PS5".
Support for 8K output will be coming via a future system update. 1440p output is not supported.
HDMI ALLM (Auto Low Latency Mode) does not appear to be supported. It was not supported in PS4 either as Sony has developed its own alternative that works with many of its recent TVs (and some other TVs).
PlayStation Now, Sony's game subscription service, will be available on PS5 at launch: "Players with a PS Now subscription will be able to use PlayStation Now with their PS5, both for streaming and downloading of supported games".
PS5 Remote Play will be supported: "Players will be able to access their PS5 from a PC or mobile device via Remote Play in the same way as PS4. With PS5, you’ll also be able to access your PS5 from a PS4 console or another PS5 via Remote Play". However, the "DualSense wireless controller is not compatible with the PS4 console".
PS5 game discs will be region free, so you can buy them from anywhere.
Sony's lengthy PS5 FAQ also answers many other questions (while leaving other questions unanswered). It can be found here. For even more information check out FlatpanelsHD's PlayStation 5 section.