Lightfall update is already possible on PS5, and shows the new title screen/music.
Beware, you can't log in to the game anymore after updating.
EDIT: Log in animation and full title music: https://youtu.be/Cl6mSqumJF4
EDIT: Issue appears to have been resolved. You need to delete and then reinstall D2 to return to a playable version.
External link →