PS5 Pro is expected late 2024, with the PS6 expected 2028. If Microsoft is to try to keep pace, as someone who doesn't have either console, it will be interesting to see if they also brand this as a mid-generation refresh or if they stick to their guns they've been touting for a while of being "beyond generations".
Because it's an easier pill to swallow, given how unpopular that last hike was.