They've just updated the Official FAQ:
"Does PS5 support VRR?
PS5 hardware supports Variable Refresh Rate (VRR) through HDMI 2.1. After a future system software update, PS5 owners will be able to use the VRR feature of compatible TVs when playing games that support VRR."
https://blog.playstation.com/2020/11/09/ps5-the-ultimate-faq/
"Does PS5 support VRR?
PS5 hardware supports Variable Refresh Rate (VRR) through HDMI 2.1. After a future system software update, PS5 owners will be able to use the VRR feature of compatible TVs when playing games that support VRR."
https://blog.playstation.com/2020/11/09/ps5-the-ultimate-faq/