GoW was already very impressive graphics wise on the PS4 so graphics going to PS5 wasn't going to be that much better,
maybe a bit more character realism but then they don't have real people to work off for Kratos. I expect environmental things like fur, snow etc. to be better.
Gameplay wise, I expect will be a lot better. Fight scenes I expect will start the same as before but will become a lot more evolved with more enemies on screen.
Story is where it's at though. If what was rumored to be true and the game is 40 hours plus long, I expect the story to be amazing as GoW's story was. There's a lot they haven't shown so there's a lot to expect.
I can't wait. Next year!