Nah. Depends on the game. Not every game will be automatically upscaled. Loading times etc will be faster across the board, but graphics wi be on a case by case basis. I think what I'm getting now is the ps4 pro versions of the game, but i guess most didn't have a pro console so it's quite novel.
Additionally, some companies have released a patch specially for the ps5 to update their games. Ghost of Tsushima for example. Give it a Google though. You can find out if there any updates for specific games by googling their name and PS5 i reckon
Edit - googled it. The Witcher 3 is getting an update and it will be free!
https://www.theverge.com/2020/9/4/2...-free-upgrade-console-xbox-ps5-pc-ray-tracing