The important thing to know here is that there's two slim rectangular buttons on the front of the console, next to each other, on the black section that splits the PS5 in half. If your your console is standing vertically the power button is the bottom one.

The PS5 console has a power button, but because of the discrete design it is not visible at first glance. At the bottom of the black strip that runs down the console, you will find two thin black buttons. The bottom one is the power button.

The power button can be difficult to see, as it's a black button on the black center stripe of the console. It's about two inches above what would be the bottom edge of the console when it's stood vertically. If you have the version of the PS5 with a disc drive, it's even with the outside edge of the mouth of the drive.