Project Q is the upcoming streaming only device that will allow you to play games installed on a PlayStation 5 remotely.
It has not been announced if the handheld will allow streaming of games from the cloud and is rumoured to cost between £250 - £300.
If it ends up having cloud streaming and Wi-Fi Direct being a connection option I can see it working. But £300 (if true) is way too much. £150 - £200 and I’d seriously consider it.