PlayStation defines CE-107857-8 as an error that occurred while loading or updating an application. It usually appears when a game or app will not start, or when an update stalls partway through. The cause is usually corrupted or incomplete game data, or system software that is out of date, rather than a broken console.
If the error follows one game after a reinstall and a database rebuild, that game's data or its latest update is the likely problem, so check whether other players report the same issue and wait for a patch. If several games fail the same way, back up saves to cloud storage or a USB drive and contact PlayStation Support, since repeated failures across many titles point toward storage trouble.
Does CE-107857-8 mean the PS5 storage is failing? Not on its own. PlayStation describes it only as an error while loading or updating an application, and does not list hardware failure as the meaning. Storage trouble becomes likely only when many games fail the same way after reinstalling and rebuilding the database.
Will deleting the game delete my saved progress? No. Deleting a game removes the game data, while saved data is kept separately. You can check it under Settings, Saved Data and Game/App Settings.
Should I rebuild the database first? No. Restart, update the system software and the game, and reinstall the game first. Rebuilding the database is the last step in PlayStation's published order for this code.