Grand Theft Auto V | PS3 - PS4 - PS5 | Final Graphics Comparison

PS3:
720p at 30fps
33Gb

PS4
1080p at 30fps
91,42Gb

PS5:
Fidelity: 2160p at 30fps
Performance: 1440p at 60fps
RT Performance: Dynamic 1440p at 60fps
92,76Gb

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The PS5 version has slightly improved all settings, staying very close to the PC version in Ultra (and even improving it in some aspects such as lighting).
The most noticeable changes compared to the PS4 version are in the shadows, reflections and the drawing distance of the vegetation.
PS5 may experience some graphical shadow bugs when changing display modes.
Performance and Performance RT modes seem to use some sort of temporal reconstruction.
Fidelity mode on PS5 features better shadows, reflections, depth of field over the other two modes.
Ray Tracing seems to be present in the outer shadows in fidelity and RT Performance modes, but I'm not sure if it's really this technology.
Load times are now 5x faster on PS5.
The improvements of this Nextgen version are comparable to those of Ghost of Tsushima or Death Stranding. These improvements are far from those that contributed to PS4 with respect to PS3.
The framerate is practically perfect on PS5. However, I find it quite questionable that they only hit 1440p/60fps in a game that is 2 generations old.