Probably not straight forward licensing wise. If they modify the code, to support more games or make it better, they have to release those modifications back into the wild.
I guess they would have to port it PS5 and its api's. Running it as a BSD app I would belive is a highway straight to jailbreak land.
That did not stop Capcom "licensing" Final burn Alpha which has a non commercial license, and contains much similar open source code(Mame), or is at least referenced in its license.