We actually know which SSD controller is in the Series X: the Phison E19T. It is a 4 channel Dram-less controller and looks to be fairly standard. I don't expect much secret features from the controller. That being said, I am interested in the so-called velocity architecture and how much it is actually a new feature or how much is just marketing speak.
For an SSD there are three important topics: sequential speed (r/w), random speed (r/w) and latency.
Sequential speed is clear, the PS5 has about double the seq speeds: 9 vs 4.8 GB/s compressed. For sustained writes, the XsX might be slower due to the Dram-less controller (might be important for suspend/resume where the entire RAM is probably written to sdd).
The random speeds are more difficult since neither company has mentioned these yet. However, we know the PS5 uses 12 NAND chips on 12 channels while the XsX uses 16 NAND chips on 4 channels. Also it's likely that only the PS5 supports 6 priority levels making fine-grain controlled random reads possible. Comparing for example a Phison controller with 8 channels to the E19T gives roughly double the random read performance. So I believe the PS5 might have up to a factor 3 or 4 better random reads.
Regarding latency and bottlenecks, I think this is the area where Sony has spend more on the hardware side as well. They have the cache scrubbers, DMA controller, two I/O coprocessors and a coherency engine. Additionally, the have SRAM inside the I/O block (different than the DRAM in a SSD controller, SRAM is ten times as fast and usually used for caches). So again for bottlenecks, I think - even if we don't have numbers - the PS5 has the faster solution.