During a Q&A between the Persona 5 Royal team and Persona Channel, one of the answers revealed that owners of the PlayStation 4 version of the game will not be eligible for a free or discounted upgrade to the PlayStation 5 version. Even if you own the game on the PS4, you will have to purchase the PS5 version at full price. Other questions on the form are in regards to the game itself.
Those familiar with the game from when it initially came out in 2019 may already know these answers. You do not need to play other games in the Persona series or the original Persona 5 in order to play Persona 5 Royal. There is a new third-semester storyline after the main plot, as well as new characters Takuto Maruki and Kasumi Yoshizawa. There are also new mechanics such as the Thieves Den.
Several other game companies have allowed PlayStation 4 users to upgrade to the next-generation console versions of their games for free or at a discounted price. For example, if you owned Star Ocean: The Divine Force or Atelier Ryza 2 on the PS4, you could get the game on PS5 for free. However, other companies did implement a similar rule for their games. Players who obtained Final Fantasy VII Remake for free due to having a PlayStation Plus subscription were not entitled to the free PS5 update.
Persona 5 Royal is available on the PlayStation 4. Persona 5 Royal will come out on the PlayStation 5, Xbox One, Xbox Series X, Windows PC, and Nintendo Switch on October 21, 2022. Those with the Xbox Game Pass will be able to access Persona 5 Royal from that date as well.