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Barkley said:

"Kodera also noted that while Sony is investing in first-party, it is not entirely for the creation of new IP. The refreshment of existing IP and development of successful IP as franchises are also part of the company’s plan to strengthen content."

A.K.A Horizon 2 is coming. There's been basically zero sequels to exclusive PS4 games so far, as they start to move developers onto projects for the PS5's early years they'll probably begin to make games that make use of the existing assets and engines from previous games to continue to release software on PS4 with less work.

After all PS3 had 3 Uncharteds, 3 Resistance's, 4 Ratchet's, 2 Infamous Games 2 LBPS, 3 Motorstorms, etc. This generation so far has had next to no first party series with multiple entries. So they'll want to start cranking the machine to push out games that can be made with less work due to the foundations already being in place, freeing up staff to start more long-term projects for the PS5.

It seems they spent this generation building tent-pole blockbuster franchises and studios. So having Naughty Dog, SSM, Guerilla, Sucker Punch and (hopefully) Bend all relevant with popular franchises under their belt, as well as a Kojima franchise that is first party. 

Now they need to flesh out the other stuff. Revive Twisted Metal, Wipeout, Ape Escape. Restructure Sony Japan so that they release more consistently good games. Try to get back some of the original creative talent for some of this as well.