This website keeps track of all the physical games across all platform that require internet connection or download to play.

12% of the discs require download to play, 5% require a patch download to be playable enough to beat it. Which leaves 83% of PS5 discs with no download required at all.

There’s a narrative out there that most discs are just licenses for download. The opposite is true. Most discs have the full game on them, a small percentage of them are just licenses to download the games.