I'm not sure what Sony could do. They had a ton of big IP for the PS4 but it failed to outsell the PS3. I don't think they should give up completely but it is smarter to focus on regions where they see growth or where Xbox is actually competitive. GT7 is the only title in the PS5's first year that looks like it could appeal to Japan.
They could use the Demon Slayer IP but even then it would depend on the developer, budget, quality, etc.