en.wikipedia.org/wiki/Philip_the_Arab

This birthplace is anachronistic. Reliable references describe Philip's native place as the village of Shahba at the time of his birth, and state that after he became emperor he renamed or refounded it as Philippopolis.

• The De Imperatoribus Romanis encyclopedia says Philip "was born ... in what today is the village of Shahba" and adds that "the village was obscure at the time of Philip's birth, though once he became emperor, Philip renamed the community Philippopolis."
• Treccani likewise describes Filippopoli d'Arabia as a city "founded by the Roman emperor Philip the Arab (244 CE)" near modern Shahba.

So listing "Philippopolis" as his birthplace in c. 204 is inaccurate, because that name belongs to the later imperial refoundation, not to the settlement as it was called when he was born.

The sentence compresses the treaty into a much stronger territorial surrender than the sources support.

Reliable references agree that Philip did make a costly peace and pay a substantial indemnity. But they do not support the claim that he simply "ceded Armenia and Mesopotamia" to the Sasanians.

• De Imperatoribus Romanis says Philip's treaty with Shapur involved payment "of 50 million sesterces, and possibly an annual tribute," but does not describe Mesopotamia as being surrendered.
• Encyclopaedia Iranica's article on Nisibis states that under the treaty, "Nisibis together with the rest of Upper Mesopotamia were left in Roman hands." That directly contradicts the claim that Mesopotamia was ceded.
• On Armenia, Encyclopaedia Iranica describes Philip as having undertaken "to renounce the Roman protectorate over Greater Armenia". That is a narrower and more precise point than saying he ceded all of Armenia.

So the sentence is inaccurate because it turns a payment plus a retreat from Roman influence in Armenia into a wholesale cession of both Armenia and Mesopotamia. Mesopotamia, in particular, was not ceded according to these sources.

In this paragraph, "At the same time" refers back to the millennium celebrations of April 248, which makes the sentence read as though Philip II became co-augustus then. But standard references date Philip II's elevation earlier, in 247.

• De Imperatoribus Romanis states: "Three years later, in the summer of 247, the boy was named Augustus and co-ruler."
• The Fitzwilliam Museum's authority record for Philip II likewise gives his status as "Caesar of Roman Empire 244-47, Augustus 247-49."

So the promotion did not occur "at the same time" as the 248 millennium festivities; Philip II was already Augustus by then.