That definitely is a major contributing factor. The higher the fidelity, the more labor required. Games also have to have detailed environments, smooth animations, and unique assets for every level. All of that effort takes time.

Studios are only so large too. Naughty Dog has less than 500 employees total IIRC, so there's also a lot of outsourcing and bringing in additional studios to help development, which takes time to setup. Naughty Dog in particular has been working on more than 1 game. It was TLOU 1 and 2 remasters, PC ports, and Factions 2. Which we know the latter didn't pan out that well. The push for live service has definitely set some things back it seems for some PS studios. 

Insomniac certainly has been the exception to the rule. They were able to release 10 games during the PS3 generation alone. Maybe they're just really good at planning everything out. But Ratchet & Clank, as well as Miles Morales were much smaller games compared to Spider-Man 1 and 2. So that may have been a contributing factor. 

But it does seem to be an industry wide issue that has led Jason Schreier to make this comment back in January 2023

Firewalk is in a very precarious position. 

1.) Making a different game would be a lot of time and money for a second chance at rolling the dice. Even if they miraculously get a game out in like 4 years, that'd end up being like 1 game in a decade, (depending on how you count that timeline.) And their biggest claim to fame is making one of the biggest AAA failures. It's not like ND, where they can just throw up their logo and people are interested. 

2.) Supporting another studio doesn't feel likely. Firewalk is in one of the most expensive areas of any studio. I think only Naughty Dog is in a more expensive area. The cost per person is very high. 

3.) Shutting down the studio seems like the most likely path, and that's incredibly unfortunate.

Lego Horizon and Until Dawn launch around the same time. That's just what happened to be ready for Pro launch.

I don't think it matters that there's no other game ready for the Pro's launch. That is out of their control. Pro is just a new SKU, literally anything launch this holiday is fine.

Honestly, until these games are formally announced, I'm not sure there's cause for concern.

Neither Horizon nor Days Gone have native PS5 versions, like a few other PS4 games have. For all we know these announcements are just PS5 patches, with Horizon getting a re-release. 

ND this gen have done the UC4/ LL and tlou 2 remaster updates. They took over development of tlou1 remake (it wasn't their's at the start and this includes PC development). They had tlou online cancelled. And are currently believed to be working on tlou3 and a new IP.

Tlou2 released 4 years after their last major release of UC4. Taking into account what they've been doing, a 2025 game would be a pretty impressive release date (not happening) and a 2026 one would be pretty much expected.

Bend were releasing updates to Days Gone through it's release year. Worked on the PC port in 2021 and were in limbo when Bend management declined a days gone sequel. I believe they've also had involvement in all the PS1 and PSP classics of their games, since they appear to be the ones patching them. 

Both studios have been busy. ND more on releases related to building their engine, Bend just generally getting work of stuff while their main game is at different points of development.

Days Gone, really?

Of all games that could have been remastered from Sony's PS4 library.

At least Killzone shadow fall could have been remastered

Sony Bend probably have the bandwidth. Plus, they'd know their custom UE4 engine better than anyone else.

Who would be free to remaster a Decima engine game? 

Sony should remaster Lost in Rain. Good game that no one played. Released on PS3 just before PS4 did.

Firewalk being a Bungie support studio is the only viable reason to keep them around.

Making a console port for the rumored mobile game, Destiny Rising, may end up being very lucrative. Helping out with Marathon can also be very valuable. Then maybe they can work on a Destiny spin off for the next generation.

I'm not sure what to make of the rumors about the PS6 having two SoC's in development.

I'd rather Sony have a more conservative approach to PS6 hardware than following the Series X/S model. Although I'm personally leaning towards a more robust successor to the Portal launching shortly after the PS6.

I dont know much about the inside development teams but still, its a waste that a well known IP is dormant.

Puppeteer is my choice ,never got to play it lol

If a PS6 pro comes out down the road as well, now your supporting 3 different speced playstation consoles.