My 8 year old nearly had an aneurism this morning when he saw the PS5 Good times! They are playing Astros Playroom right now.
I will say setting up kids accounts I found less than intuitive, but I think I got it right.
1. Logged into my old PSN account I had from when I had a PS3
2. On the PS5 set up a family
3. Added both sons. Had to take a detour though and create them both gmail accounts
From there I couldn't figure out how to play as them. Switch user implied I had to create a PSN account for each so I did that.
4. Add User - this seemed to work. Added my son and then seem to know that user was also in my family based off the same email address.
However with my second son I hit a brick wall. I try to log into PSN and I get an error message like this one:
https://images.app.goo.gl/hnWaVWhAwGpcg5rs5Of course the kid didn't even have an email address until this morning so pretty sure he hasn't violated anything. Customer support is closed so he's just playing as a guest for now.