TL;DW:
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You’ll want a PCIe 3.0 NVME drive at minimum for an optimal gaming experience. Anything beyond PCIe 4.0 is excessive and is a poor use of your money.
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SATA SSDs are still viable but on the cusp of unplayable.
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And lastly no one should game on a HDD/harddrive as the performance is beyond abysmal.
You can achieve, and beat, PS5 read speeds on PCIe 5.0. No game will really take advantage of it though. They don’t even really take advantage of it on the consoles