This article compares the 2017 PS4 version of Jak and Daxter: The Precursor Legacy to the 2024 PS5 version. Both versions are played on the base PS5 console.
You can find the video below:
The two versions look very similar from a resolution standpoint. However, the 2024 release does appear to be running smoother in terms of frame rate in both cut scenes and actual gameplay.
The PS5 version also adds rewind and save state when compared to the older emulated PS4 version.