It could be a laptop with e.g. 64GB RAM, but even then having a 6.4TFLOPs Turing GPU showing that same demo @ ISO settings would mean the PS5 demo wasn't properly optimized for the hardware. Which doesn't make sense if you're trying to show off what the engine can do on Epic's side, and what the PS5 can do on Sony's side.
I never said it runs at ISO settings. Currently seeing the last demo and the reaction from the different Epic engineer it seems they work first on consoles version and optimizations are ported to PC later. For example on PC, the hardware path use vertex shader and no mesh shader, it will arrive later. On PS5/Xbox Series it is using Primitive/Mesh shader.