Sony will definitely still be offered a contract I would think, if only for Microsoft to continue to look good to regulators and because they've already made that public commitment now.
But I imagine it'll be worse than the one CMA could have enforced, it'll likely be a bog standard contract, it surely won't have any of that stuff about someone watching over Microsoft to ensure parity in tech/content and Sony will be paying whatever Microsoft deems appropriate for PS+ inclusion.
Not that they even need a contract, Minecraft doesn't have one, but oh well.