Mark Cerny in his talk said you can use external HDD/SSD's to store your PS4 AND PS5 games, but PS5 games will not run directly off of the external storage. You will have to move games to and from the SSD to your external storage to play them if you want more than 825GB worth of games at once.
PS4(PS5 Soon)and PC gaming
There's only 2 races: White and 'Political Agenda'
2 Genders: Male and 'Political Agenda'
2 Hairstyles for female characters: Long and 'Political Agenda'
2 Sexualities: Straight and 'Political Agenda'