The ability to jump straight from the PlayStation 5's UI into instant gameplay has apparently been given a name: Activities. The function, which was previously mentioned by Mark Cerny in an interview with Wired last year, was described in further detail in a presentation for the future PS5 game WRC 9.
https://www.notebookcheck.net/PlayStation-5-Activities-feature-allows-a-gamer-to-jump-straight-from-the-PS5-UI-into-instant-gameplay.483439.0.html