One of ASRock's more modest and entry-level gaming-focused Z690 models comes via the Z690 Phantom Gaming 4/D5, with the D5 signifying this model supports DDR5 memory and not DDR4. Equipped with an entry-level feature set, and an equally entry-level price point to boot, the ASRock Z690 Phantom Gaming 4/D5 has one of the more basic looks of all its Z690 models. It uses a primarily black theme with simple silver heatsinks throughout. It's also one of the most bare looking PCBs from all of the Z690 models at launch, with a real focus on cutting costs for users looking for an affordable model.

Looking at the board's specifications, there are two full-length PCIe slots, with one full-length PCIe 5.0 x16 slot, one full-length PCIe 4.0 x4 slot, and three smaller PCIe 3.0 x1 slots. Located in the top right-hand corner is the board's memory slots, with four in total offering support for DDR5-5800, and a combined total of 128 GB. Storage options are relatively basic as expected for a board of this pedigree, with three PCIe 4.0 x4 M.2 slots, with one of these also supporting SATA-based drives. The ASRock Z690 Phantom Gaming 4/D5 also includes just four SATA ports with support for RAID 0, 1, 5, and 10 arrays.

On the rear panel is a modest selection of input and output, including one USB 3.2 G2 Type-C, one USB 3.2 G2 Type-A, four USB 3.2 G1 Type-A, and two USB 2.0 ports. An Intel I219-V Gigabit Ethernet controller is the board's only source of networking support, while a Realtek ALC897 powers three 3.5 mm audio jacks. Finishing off the rear panel is a single HDMI port, with a small BIOS Flashback button and a PS/2 combo port for users preferring to use legacy peripherals.

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