Not to put too fine a point on it, but not really. PlayStation is a multiplatform publisher, and most if not all of their PS5 games were designed around PC scalability. TLOUP1, a PS5 exclusive,
works fine on the Rog Ally with the expected concessions as does
Ratchet and Clank Rift Apart. There's not fundamental or physical limitations here. For PlayStation, like Microsoft, the issue will be cost versus serviceability. For the kind of hardware you need to push next gen games around, the price won't be cheap, and so customers are going to expect a lot. Can Microsoft or Sony deliver more than the current crop of PC handhelds as mass market prices? Personally, I don't see it. Microsoft might pull out an "Xbox Mode" for Windows that gives their platform a temporary edge, but if Sony releases a super expensive PlayStation handheld, it'll be DOA if all it can do is run PlayStation games with worse graphics and approved apps like the PS5 does.