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Possible? Sure. Sony could probably make a Switch-sized PS4 portable in the next few years that runs the same games, and also has some cross-compatibility with PS5 via PS4 versions of those games.

But probable? Probably not. It’d be a risk, and Vita didn’t do great, and Switch kinda already has the market cornered. At best, it’d be niche hardware, and I’m not sure Sony would want to waste resources on it.