Work is a very broad term. Anyone who's played Elite Dangerous in backwards compatibility mode on a 4K capable display on the PS5 would probably beg to differ. What's stopping the new version is lack of commitment to consoles from the developer.
Frontier's other IPs - including those recently announced like JW2 - are releasing native current-gen versions. It could be taken as evidence that we're reaching the end of development.
Huh, I can play Odyessy with only a DS4 just fine sans needing a keyboard to type, and thats not a problem on PS4 given how you type ther ein the first place.