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”.
We are nearing something of a plateau with conventional gaming specs. With things like unreal’s nanite, and something like apple vision making resolution and screen size basically arbitrary, we’ll have consumer computational resources to run games of any level of graphical complexity. Remaining bottlenecks would be dynamic simulation and storage capacity.