The official PlayStation store page for GhostWire: Tokyo includes a section that specifically runs down all of the features coming to the PS5 version (it's a console exclusive, though it's also coming to PC). The top bullet point notes that GhostWire will make use of both ray tracing and HDR - which together mean improved lighting and more vibrant visuals - and the second one confirms that you'll be able to travel through Tokyo "without load times" because of the PS5's deeply integrated SSD.
The listing also confirms that GhostWire: Tokyo will make use of the DualSense's new features as well: it doesn't go into detail, but both the conventional weapons and the supernatural powers - described by combat director Shinichiro Hara as "karate meets magic" - that your character wields will have even more kick thanks to their presence. Finally, folks who have compatible headphones will get to enjoy 3D audio, making it easier to track down enemies (and also easier to get spooked when a ghost starts rustling around behind you).
GhostWire: Tokyo is the latest project from Tango Gameworks, and its first game that isn't part of the Evil Within franchise. It was first announced at E3 2019 by studio founder Shinji Mikami and then-creative-director Ikumi Nakamura, though she left the company soon after the announcement and eventually announced the formation of her own indie studio earlier this year. Tango Gameworks is now officially on team Xbox after Microsoft completed its acquisition of Bethesda earlier this year, but that hasn't led to any changes to the release window for GhostWire: Tokyo, which is still set to arrive sometime this year.
Microsoft hasn't been shy about its plans to bring more and more Bethesda games to Xbox Game Pass, which could manifest for Bethesda games further out than GhostWire - recent rumors even point to Starfield being an Xbox and PC exclusive, which wouldn't be a surprise given how much Microsoft spent to acquire Bethesda.
Hopefully we'll see more of GhostWire: Tokyo sometime this summer - check out our E3 2021 schedule to get ready for the weeks ahead.