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HylianYoshi said:
PS4.5 probably still would've happened regardless of NX. But I'm sure that the NX had to have had some sort of influence on the decision, probably just a minor one.

Just to attempt to edge over some advantages Nintendo could possibly have had with the NX. Better safe than sorry.

This is probably the best conclusion as to what is really happening here. Sony probably was toying around with this idea back in early 2015 (probably late 2014 as well) and the Nintendo comes out of nowhere announcing the NX. Sony goes "HOLY SH*T" and they start pushing this console through production so it could make it out just in time for the NX release. I'm not expert on the time thats needed to make a video console, but if this really is just a PS4 with a 4K upgrade no more no less, then I don't see how this console could have taken more than 2 years to develop. Especially if Sony started to push it through development.

So tl;dr Sony was probably working on it but the NX announcement caused Sony to push the PS4K through production for a 2016 holiday release. That's at least where I'm standing right now until we get an official announcement.