Open a new Blank Powerpoint Presentation.
Insert all the song lyrics into the slides.
Click Insert > Sound from File
Select a suitable MP3 song to put in.
How do you want the sound to start in the slide show?
Click to select the text frame.
At the top of the office bar.
Click Animations > Custom Animation.
There you can Add Effect for your lyrics.
Start: With Previous
For Speed, you can adjust to suit your song.
Adjust your Timing so that the lyrics can run according to song.
Set your slide transition Automatically After the time you want and key in the transition period.
Some important notices:
Make sure you included your MP3 file in the same folder.
Turn off all active running programs during the automatic timing Slides Show to avoid any pop-up to disturb your slide show.