PS4 FW 5.05 kernel exploit finally set for release as Sony reveals launch date for the PlayStation 5

That isn't where it all ends, however, as there has been confirmation of the imminent release of a firmware 5.05 jailbreak. That is game-changing for a number of reasons, most notable being the fact that FW 5.05 is one of the more recent firmware releases by Sony, and would allow the installation of newer games like God of War.

Also, a known developer, Mathieulh, has announced that he's in possession of a kernel exploit for firmware 5.53. This is the current firmware the PlayStation 4 runs on. The announcement was so unexpected, in fact, that most would've considered it facetious were it not for the fact that said developer has a reputation in the community.

Meanwhile, Sony Interactive Entertainment CEO John Kodera has announced that the PlayStation 5 is still at least three years away. 

“We will use the next three years to prepare the next step, to crouch down so that we can jump higher in the future,” the executive was quoted as saying in an interview. He also went on to announce that the PS Vita would likely reach the end of its life cycle in 2020, with the PlayStation already entering the last phase of its own cycle.