To create a child account on your PS5 or PS4, it's very easy to do. You will need a PC or Phone to create the account. To do this, go to playstation dot com then go to sign in, then select your profile and go to account settings, family management. Now to set up the child account, you will need a credit card and it will be charged 50 cents to verify you are an adult. Also, have an email address for your child account. Once it's setup, sign in on your PS4 or PS5.