Eschatos

To play this game on PS5, your system may need to be updated to the latest system software. Although this game is playable on PS5, some features available on PS4 may be absent. See PlayStation.com/bc for more details.
Hard-core vertical scrolling shoot 'em up game with fast-paced, exhilarating speed and sci-fi world reminiscent of the '80s.

Source:

PlayStation Store Description