The PlayStation 5 is still on track for its previously announced holidays 2020 release. Sony confirmed this in their earnings presentation for FY2019.

The Japanese company wrote that it is still on schedule, despite a variety of factors, such as employees working from home and travel restrictions. Concerning game development, Son states that no major problems have surfaced and that Sony's own studios, as well as its partners' studios, are still on track as well.

Regarding the launch of PlayStation®5, although factors such as employees working from home and restrictions on international travel have presented some challenges in regards to part of the testing process and the qualification of production lines, development is progressing with the launch of the console scheduled for the 2020 holiday season. At this point in time major problems have not arisen in the game software development pipeline for Sony’s own first-party studios or its partners’ studios.

Additionally, Takashi Mochizuki - Reporter for Bloomberg - tweeted out the following;

A full reveal of the PlayStation 5 seems imminent, although no actual date has been shared for when we will finally fully see what the PlayStation 5 will bring us.