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Sony's purported PlayStation 6 portable will reportedly run PS5 games without intervention from developers, although if you want more performance you might need to download patches onto that PS6 portable.

In a new post on the NeoGAF forums by leaker "Kepler_L2" we're learning that the PS6 portable should run previous-gen PS5 games without much work from the developers, but the performance might suffer if the games aren't patched. We only just heard about the PS6 portable and its rumored performance being better than Microsoft's Xbox Series S, but less powerful than the standard PS5.
We should expect the full PlayStation 6 to have truly next-generation performance -- 4K 120FPS, with I'm sure with some form of AI upscaling through PSSR -- but the portable PS6 being capable of running most PS5 games would be very impressive to see.
The first rumors of two SoCs for the PlayStation 6 started last year, where we heard that AMD had already won the contract for the semi-custom SoC inside of the PS6, but there would be a PS6 handheld, too. They started with rumors of the "Vita 2" earlier in 2024, with those rumors teasing that the new PS6 portable would reportedly run PS5, PS4, PS3, PS2, and PS1 games.
The SoC inside of the PS6 portable is expected to take out a few months after the regular PlayStation 6 SoC, so we should be expecting a longer wait for more information. AMD is making the chips for both the PS6 and PS6 portable, using its next-gen UDNA GPU architecture, and most likely a Zen 5-based CPU.