See How The Fallout 4 Next-Gen Update Compares To The Old Version
Briefly

Fallout 4's next-gen update on PS5 and Xbox Series X|S enhances visuals and frame rates, with Quality and Performance Modes available for improved gameplay experience.
The update also brings new Creation Club content like 'Echoes of the Past' quest focusing on the Enclave faction, offering additional gameplay elements to the RPG.
PS5 players who got Fallout 4 via the old PS Plus Collection are facing bugs with the free update, with Bethesda clarifying that access will be through PlayStation Game Catalog.
Read at GameSpot
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