I bought the dongle for the PS4. According to external reports, it also works for the PS5.
Just note that for gaming, ideally aptX LL should be used, which this dongle cannot do (only SBC). Microphone does not work either. So if you intend to play multiplayer with voice chat, it won't work with just the dongle.

I am satisfied because I only play single player on the PS anyway and the audio quality is OK for me personally, considering the price.