The single best alternative to a PSP version is the unofficial port for the PlayStation Vita (PS Vita), Sony's successor to the PSP. While this isn't a PSP solution, the PS Vita is part of the same family of Sony handhelds and is readily available on the second-hand market.
: Available on the PlayStation Plus Game Catalog for Extra and Premium members. Unofficial Community Ports
If you're a developer or modder interested in contributing, the for the Vita port is open for submissions, testing, and feedback. PatnosDD has expressed that while the port may never be perfect, continued community support could lead to further improvements.
A developer named PatnosDD created a remarkable patch that allows a copy of Hollow Knight (purchased on Steam or GOG) to be converted into a package that runs on a hacked PS Vita. This is a dedicated port, not simple emulation, meaning it runs natively on the hardware.
The retro homebrew community is incredibly talented. Some developers have attempted to recreate the opening areas of Hollow Knight (like Dirtmouth or the Forgotten Crossroads) from scratch using PSP-compatible programming languages like C++ or Lua. These are heavily stripped-down "demakes" featuring basic movement and combat, rather than the full game. 2. PS Vita Ports Mistaken for PSP
A dedicated group of fans successfully ported the full PC version of Hollow Knight to Android devices. It supports native controller inputs and runs incredibly well on modern smartphones.
The PSP is a legendary handheld, but Hollow Knight belongs to a newer generation. The Nintendo Switch is the cheapest, easiest, and most reliable way to play the game on a dedicated gaming handheld. The Steam Deck offers a premium experience, and a hacked PS Vita is the only Sony handheld that can run it at all.
: This is a demake designed for the Game Boy. Because the PSP is excellent at emulating Game Boy and Game Boy Color games, you can run this demake using a PSP emulator like MasterBoy or RIN .
Hollow Knight is a critically acclaimed 2017 Metroidvania developed by Team Cherry . While it has been officially released on modern platforms like PC, Nintendo Switch, PlayStation 4, and Xbox One, it never received an official release for the Sony PlayStation Portable (PSP).