PS5 jailbreak researcher Gezine recently released a video showing access to the console's debug menu on system firmware version 14.10. However, the method has not been made public, and the full capabilities of the technique cannot be confirmed based solely on this video.
Accessing the debug menu does not equate to being able to run pirated games. Gezine explicitly stated that previous methods used to extract executable files appear to no longer work on 14.xx firmware. There is currently no evidence that the demonstrated method can pirate any games; further breakthroughs may require discovering new vulnerabilities targeting the console's hypervisor.
GamesRadar linked this incident to the upcoming release of GTA 6, but it remains unclear which version of the PS5 firmware will be required for the game. Sony may also release new system versions around the game's launch, so discussions about whether players can run the title while maintaining a jailbroken state remain speculative.
PlayStation recently awarded a $50,000 bounty via HackerOne to a user who reported a critical vulnerability. The specific nature of the vulnerability has not been disclosed, and it is currently unclear whether it is related to the method demonstrated by Gezine.