Shadow Of The Colossus texture streaming issues has been fixed on PS5 BC (Update: Issue not totally fixed see threadmark)

Looks like one of the recent PS5 system firmware updates actually fixed an streaming bug that the console had with PS4 games running through backwards compatibility. Shadow Of The Colossus specifically had some texture streaming issues. The game hasn't been updated since 2018

PS5 Backwards Compatibility: All PS4 games with benefits Sony - Tech, Page 81

Shadow of the colossus has finally been fixed on PS5! (Low-res texture bug) : r/PS5

PS5 Backwards Compatibility: All PS4 games with benefits Sony - Tech, Page 82

PSA - Shadow of the Colossus still has severe texture streaming issues on PS5 nearly two years later : r/ShadowoftheColossus

PS5 Backwards Compatibility: All PS4 games with benefits Sony - Tech, Page 82

PS5 Games Tech Details - Resolution, Frame Rate, Backwards Compatibility, and more, Page 7

PS5 Games Tech Details - Resolution, Frame Rate, Backwards Compatibility, and more, Page 11

New PS5 System Update Fixes Backwards Compatibility Texture Issues

PSA - Shadow of the Colossus still has severe texture streaming issues on PS5 nearly two years later : r/ShadowoftheColossus