the head of PS already said so exclusives will be cross gen last year didn't he and than some of the others did damage control
Sony seems to be taking a middle ground approach with cross-gen support. So far, the confirmed cross-gen first-party PS5 games are Miles Morales, Sackboy Adventures, and Horizon: Forbidden West. On the other hand, Demon's Souls, Astro's Playroom, Ratchet & Clank: Rift Apart, Returnal, and Destruction All-stars are PS5-only. I have a feeling GT7 will end up being cross-gen.
GoW: Ragnarok being cross-gen would probably mean the extra graphical headroom will be used to bolt RT features on top of the PS4 version, much like in the case of Miles Morales and very likely to also be the case for Horizon: Forbidden West. For now, Demon's Souls is the only PS5 game that graphically looks current-gen, imo. In terms of game design, it's a remake of a PS3 game, so it isn't doing anything new. Expecting Ratchet and Returnal to deliver on that front.