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Rumours regarding PS5 Pro have started surfacing again as AMD has began hiring for the development of next-gen RDNA family graphics chip.
AMD's job listing says, "We are currently looking for a System-on-Chip Verification Engineer who will be part of a team working on next generation of a complex SOC design. The successful candidate will play a key role in SOC verification performing the following duties for functional, power, and performance aspects with simulation and hardware emulation environment." The job listing makes it clear that AMD is working on Zen 3 architecture-based chips for consoles like PS5 and Xbox Series X|S. The new chips can be used for PS5 Pro or a new version of Xbox Series X.
It won't be surprising to see Sony working on PS5 Pro as it has already done something similar with PS4. Besides, a report from DigiTimes (via Tom's Hardware) suggests that Sony's manufacturing partners will begin production of redesigned PS5 consoles next year. The new version of PS5 is expected to be cheaper to produce, allowing Sony to cut the price of PS5 and address chip shortage that continues to impact global PS5 sales. The new version of PS5 is expected to use Taiwan Semiconductor Manufacturing Company's (TSMC) new fabrication process called N6 (6nm) instead of the currently used N7 tech. However, all of these details should be taken with a grain of salt, since Sony hasn't officially confirmed any of this yet.