What is the Sony PlayStation 5 System Software Beta Program?

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Sony has announced the first PlayStation 5 System Software Beta Program. The program is designed to help players test new console features before the next system update to the console due out later this year. Players who sign up can do so at the program sign-up webpage. The feedback from the beta is going to apparently help guide the future development of the features and the system update. The last major update for the PS5 console was released last April and included extended USB storage, cross-generation Share Play, and other various social features.