The last gen consoles of Sony and Microsoft (PS4 and Xbox One) tried to built on Move and Kinect, respectively. Sony's foray into VR has been commercially underwhelming, so it's no surprise that VR had no presence in the PS5 event earlier this month.
PS VR was actually very successful for a niche product. It'll be back on PS5, but they're probably still working on a new version of it. PSVR itself didn't arrive until 3 years into the PS4's life, so it's possible PSVR 2 could arrive even sooner than that.