Source: Riot Forge
As stated in the below video, The PS4 version of Ruined King includes a free upgrade to the digital PS5 version, which will be available at a later date. The Xbox version of Ruined King uses Smart Delivery, allowing access to both the Xbox One title and the Xbox Series X|S title, which will also be available at a later date.
Game Details as shared on Steam:
Rise Against Ruin
Unite a party of League of Legends Champions, explore Bilgewater, and set sail for the Shadow Isles to uncover the secrets of the deadly Black Mist.
About Ruined King: A League of Legends Story
Developed by Airship Syndicate and featuring the art style of legendary comic book artist Joe Madureira, creators of Battle Chasers and Darksiders, Ruined King: A League of Legends Story is the first Riot Forge game that invites you to explore the League of Legends universe. In this immersive turn-based RPG, you will have the freedom to configure your party and control an unlikely group of League of Legends champions, explore the bustling city of Bilgewater and the mysterious Shadow Isles, and experience the Lane Initiative System.