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Well it's weak but what the hell, it's going around today with a timed PS5 exclusive rumor.

https://boards.4channel.org/v/thread/510006864

Final Fantasy XVI will be announced at the Summer Game Fest Anonymous 05/28/20(Thu)00:25:23 No.510006864 ▶>>510008730 >>510010286 >>510011013
According to information I got from an insider very close to the marketing department of the Square Enix company, he has several important games to announce during the Summer Game Fest.
And among these important announcements there are also Final Fantasy XVI, and the new IP of Luminous Studios Crimson Arbitrium - Agni's Anthology.

Final Fantasy XVI it is an action jrpg with strategic elements, with openworld exploration of the game world and with macro-areas of cities and dungeons within the rich openworld itself and a free exploration of entire continents.
The main director of the project is Naoki Yoshida and the game has a classic fantasy concept but with steampunk elements and has a battle system inspired by Dark Souls and Final Fantasy XV. The game will also see the return of the jobs system, but in a different key from the classic, and the ability to customize and change the equipments and even the name of the characters.

The project begins his development in the 2017 with the Unreal Engine 4, and the team haven't decided yet if actually future converting the game for Unreal Engine 5. The DLC's and expansions for the game are still in the planning phase by the development team, but the top management's of the company they suggests, with a strong will, a Game as a Service approach with this project. But they have established a preliminary release date for the game, scheduled for the company's fiscal year 2021, (with a closing window in the first quarter of 2022), timed exclusive for PS5.

Also,

https://boards.4channel.org/v/thread/509999717

Crimson Arbitrium - Agni's Anthology will be announced at the Summer Game Fest Yhrim 05/27/20(Wed)23:09:59 No.509999717 ▶
This is the name of the brand new IP of Luminous Production of Square Enix.
According to information I got from an insider very close to the marketing department of the Square Enix company, he has several important games to announce during the Summer Game Fest.
And among these important announcements there are also Final Fantasy XVI, and the new IP of Luminous Studios Crimson Arbitrium - Agni's Anthology.

Crimson Arbitrium - Agni's Anthology is an action JRPG game, settled into a huge openworld developed with the Luminous Engine.
The combat system is designed to place greater emphasis on elemental spells, and how they can be modified by the main character in the environment, transforming them into barriers or long-distance projectiles, and with a significant impact in the environments in which they are left. The spells can also change the appearance and the ability of the weapons equipped, and of the equipments too, giving different power up and changing some of the abilities.
The games that inspired the developers in creating this game were: Final Fantasy - The 4 Heroes of Light, and Parasite Eve.
The game is in development for PS5, Xbox Series X and PC, it does not yet have a final launch date, but has a launch window set for the fiscal year 2022.


Like I said, it's weak, it's 4chan but we'll see. A timed FF16 to PS5 would be huge though.