Naughty Dog, the developer behind the fabled Uncharted series, has unceremoniously outline their upcoming release plans for after Uncharted 4: A Thief's End, and highlighted that there may be one, or more, games coming from them for this console generation

Naughty Dog might have one more left this generation. Could that be The Last of Us 2?

　　He did help to explain the typical development cycle, and that it was short enough that there could be many more games this generation. Also, if a first-party studio doesn't have knowledge of any impending PS5 development, then there is certainly very little information available.

　　"I would hope we would release a game pretty soon. Our development cycles aren't too long, and I have no idea how long this console generation really is going to last, but, yeah, there's no doubt it should be in this console generation for sure."

　　- Arne Meyer

　　Later he clarified that there should definitely be at least one, if not more games for this generation.

　　"I mean, I have no doubt--I don't know what the timelines are--but [Naughty Dog has] at least one, maybe two games left in the console generation, maybe more. Clearly we can release a game really late in a console generation and do well, right?"

　　- Arne Meyer

　　Very little is known of Sony's plans for the next generation of consoles, the PS5 as it very well may be called, though because it seems that Sony is instead focusing on bringing their PlayStation VR into fruition instead. A more powerful console would necessarily allow for a better VR experience, though the PS VR does have an external "compute box" as mentioned here to help alleviate some CPU demand (mostly for 3D audio and the splitting of frames sent to the headset).

　　But Naughty Dogs development cycle might just not be planned out because no projects have been properly brainstormed. The PS4 is still young by console standards, even if the hardware is showing its age rapidly. There were some rumblings around the actual development of The Last of Us 2 as Bruce Straley,with Neil Druckmann, transitioned over to Uncharted 4. Shuehei Yoshida even confirmed that The Last of Us 2 was at least being considered.