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".
Even if Microsoft wasn't bringing their games to PC for the longest time, there are other factors that would have pushed Sony in that direction. The games that they're making are immensely expensive to make, and they can't necessarily bank on console sales recouping that cost as guaranteed as they used to. And then there was also the supply shortages caused by the pandemic that prevented PS5s from being picked up by ready and willing customers.