Changing the region of your PS5 to Europe allows you to access exclusive content and features that may not be available in other regions. For example, you may be able to play games that are only released in Europe or access region-locked content on streaming services. Additionally, changing the region of your PS5 can allow you to take advantage of different sales and promotions that may be offered in the European PlayStation Store.
Keep in mind that changing the region of your PS5 may also have some drawbacks. For example, you may lose access to content that is only available in your original region. Additionally, you may need to create a new PlayStation Network account if you want to access the European PlayStation Store.