Place the .pkg file in the root of your FAT32 USB drive: USB:\GTA_V_1.27_UPDATE.pkg
While you cannot play online with 1.27 anymore (Rockstar shut down PS3/Xbox 360 GTA Online servers in December 2021), it remains the gold standard for and preserving the game as it was at its peak performance on the console. gta v 127 update pkg ps3 top