No, they have 16GB VRAM.
The PS5 has 16GB of blazing fast GDDR6 VRAM, combined with a custom texture decompressor. It's a beast of a console.
Slow PC system memory is completely useless for the GPU processor. That's why adding faster DDR5 makes didly squat difference for gaming. GDDR6 VRAM is exponentially faster than DDR5 system memory.
Textures and shaders needs to be in VRAM to be usable by the GPU.
Directstorage is literally designed to bypass the PC system memory bottleneck.
You can build a PC with 128GB DDR5 system memory, and your game will still stutter and run like garbage with a GPU with only 8GB VRAM.
The system memory on PC in no way compensates for the lack of VRAM compared to consoles.
To compete with a console with 16GB VRAM, PC need GPU with 16GB VRAM. That was the case last gen with 8GB, and it is the case today.
PC GPU should have 16GB VRAM, there's no excuse anymore. PC GPU with 8GB VRAM can not handle today's console ports.