The company did however that it will not be possible to carry over their save data from the PS4 version of the game to the PS5 edition. Furthermore, the Beachside Vay-Cay and SSS Summer Splash DLC will not be playable in VR on PS5, but can still be played with or without VR on PS4.
Yes, there are save data carryover bonuses. However, save data from the PS4™ of Trails into Reverie will not be compatible with the PS5™ version of Trails into Reverie. Due to this, we will be providing all carryover bonuses to all players who purchase the PS5™ version of Trails into Reverie for free.
The Legend of Heroes: Trails into Reverie is slated for release on PS4, PS5, PC and Nintendo Switch in Summer 2023.
[Source – NIS America]