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INSTRUCTIONS MENTIONED IN THE VIDEO :-
Follow the steps given below if for any reason the steps in the video are unclear.

How to set up Family Sharing on PlayStation 4
On your PS4, sign in with the account which has the PlayStation Plus subscription.
Open your Settings.
Navigate to the PSN menu.
Select Activate as Your Primary PS4.

How to set up Family Sharing on PS5
A lot of this involves knowing how to manage multiple accounts on PS5. PlayStation Plus sharing is enabled by default on PS5, but should you want to change these settings, here are the steps you'd take.

Go to Settings.
Select Users and Accounts.
Select Other.
Select Console Sharing and Offline Play.
Select Don't Disable.

Which PlayStation Plus benefits can you share?
You should know, not all benefits can be used by the accounts that don't have their own PlayStation Plus subscription. We'll run them down for you.

Here's what you can share

Play online multiplayer
Play downloaded games, including those purchased with a PS Plus discount
Download and play the monthly PS Plus games included with the subscription
Here are the things family members will miss out on

Purchasing games at the discounted PS Plus rate
Cloud storage for game saves
Automatic patch downloads
Exclusive PS Plus-only early access game trials
Whether your secondary accounts need their own PS Plus subscriptions is up to you and your particular needs. If all you want is to play online and play all the games on that console, you're probably OK with just one subscription. However, those with more elaborate needs may want to consider paying for more than one subscription.

It's also worth keeping in mind that PlayStation Plus is being reworked later in 2022, with the service revamp to feature three distinct tiers. The first tier essentially remains the same, while the second and third tiers are folding in portions of PlayStation Now, as well as some other features like game trials.

We'll have to wait and see which of these features are available through sharing PlayStation Plus with your family.