In a podcast with Josiah Renaudin's "The 1099," Pachter muses that he thinks Sony won't release the PS5 until Sony's sales of the PS4 slows down.
"I think that's exactly when you'll see one (PS5) 2019 or 2020, and if I had to bet, it's 2020. Sony's making so much money with the PS4 that I think they'll continue to milk it as long as they can milk it. And I think the natural extension of that is the PS4 Pro becomes the default PS4, and they just knock that price down to $250 when they can and they keep selling it -- a ton of those. The PS5 is probably going to be their real 4K device, and so it just feels to me that they're not going to launch the PS5 until sales momentum for the PS4 slows, and it just hasn't. So you certainly get through 2017, 2018, and I just don't see it slowing in 2018 which should prop them to launch something in 2019. If it slows in 2019, they're probably launching in 2020."
You can hear the quote around the 47:70 mark in the podcast.
So 2018 or 2021, cause Pach is always wrong.