Try this

src/accelerate/utils/constants.py

@@ -31,7 +31,7 @@ SAFE_WEIGHTS_INDEX_NAME = f"{SAFE_WEIGHTS_NAME}.index.json"
 SAGEMAKER_PYTORCH_VERSION = "1.10.2"
 SAGEMAKER_PYTHON_VERSION = "py38"
 SAGEMAKER_TRANSFORMERS_VERSION = "4.17.0"
-SAGEMAKER_PARALLEL_EC2_INSTANCES = ["ml.p3.16xlarge", "ml.p3dn.24xlarge", "ml.p4dn.24xlarge"]
+SAGEMAKER_PARALLEL_EC2_INSTANCES = ["ml.p3.16xlarge", "ml.p3dn.24xlarge", "ml.p4dn.24xlarge", "ml.p5.48xlarge"]
 FSDP_SHARDING_STRATEGY = ["FULL_SHARD", "SHARD_GRAD_OP", "NO_SHARD", "HYBRID_SHARD", "HYBRID_SHARD_ZERO2"]
 FSDP_AUTO_WRAP_POLICY = ["TRANSFORMER_BASED_WRAP", "SIZE_BASED_WRAP", "NO_WRAP"]
 FSDP_BACKWARD_PREFETCH = ["BACKWARD_PRE", "BACKWARD_POST", "NO_PREFETCH"]