It's either RDNA 1 or RDNA 2. I don't know why people keep mentioning RDNA 1.5 or 1.9, IDK where these numbers came from... Certainly not from AMD. And I believe PS5 is full-blown RDNA 2. Here's why:
1. PS5 is confirmed to have RT acceleration in the GPU hardware just like Series X.
2. Series X's GPU is confirmed to be RDNA 2. So we establish that RT is an RDNA 2 feature.
3. Therefore this leads me to believe that PS5 is clearly RDNA 2.
Another source is AMD themselves. Here's what AMD's product management lead had said during January's press briefing:
EDIT: Adding the link to the above quote in here as well:
AMD has said in a recent briefing that raytracing will arrive on their cards "when the time is right". Here's what that means.
www.techquila.co.in
From the above quote, it's clear-cut that ray-tracing is a part of RDNA 2. XSX and PS5 support HW-based RT, it's because they have RDNA 2. Plain and simple.
RDNA 1 GPUs we have available now on PC does not have any traces of ray-tracing. So yeah.