You're not alone if you've discovered that you can't seem to get into your PlayStation account on a PS4 or PS5. Sony has issued a notification alerting users about problems with the PlayStation Network that also impact online gaming and the PlayStation Store.
The problems started at about 7:46 a.m. PT / 10:46 a.m. ET / 3:46 p.m. BST, according to Sony's website. Thus, you will have to postpone your intentions to purchase any digital games or play online multiplayer games until Sony fixes the issue.
However, not everyone seems to be impacted. Just now, I tested it myself, and everything seems to be going OK. On the other hand, there are stories available online from people who can attest to the network going down for them. As of this writing, Sony has not provided a time estimate for when the issue will be fixed; instead, it has just said that it would be fixed "as soon as possible" and asked PlayStation owners to exercise patience.
Regarding the specifics, the network problems might prevent you from opening certain games, managing your account, accessing PlayStation Video content, or making purchases on the PlayStation Store. Ideally, you have some offline games that you can play to kill time without using the internet. It's a good idea to keep a watch on social media for any announcements from Sony or other players on the network's return if you choose to utilize your PlayStation while it's unavailable.