https://arstechnica.com/gaming/2019/10/sony-confirms-the-playstation-5-is-coming-in-2020-reveals-new-hardware-details/

Sony representatives have revealed substantial new details about the company's upcoming PlayStation 5 console in an interview with Wired. New features and improvements will include sophisticated haptics in the controller, a high-capacity disc format, hardware ray tracing, and a UI that lets users see in-game information before launching a game. Additionally, Sony confirmed that the console will be called the PlayStation 5 and that it will launch before the holidays in 2020.

Mark Cerny, the architect of the PlayStation 4, is returning as chief architect for the PlayStation 5. Earlier this year, he sat down with Wired to demonstrate Sony's work to eliminate load times with extremely fast solid-state drives and improved software stacks and I/O to accompany them. In that demonstration, a fast-travel load in Spider-Man went from 19 seconds on current PS4 hardware to less than one second on new hardware.