Does Fanatec CSL Elite steering wheel P1 for XBOX work on PS4?

I bought a f1 bundle off of the start and now kinda looking for a rounded rim just for casual driving. The CSL elite p1 PS4 wheel is ofc the easiest choice but it only had a bundle including the wheelbase (which I already have) as a set. So I am thinking of getting the Xbox standalone version wheel as I thought they are compatible.

The question is... What's the difference between "PS4 ready" and by "PS4?" Would I be able to buy it and change the button to make it a the ps4 version?

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