Square Enix subsidiary Luminous Productions appears to be working on a high-end title for “PS5” according to the Linkedin profile of Tomohiro Tokoro, a 3D graphic director and 3D character model lead of the studio. [Thanks, @Renka_schedule.]
While the profile has been updated, a screenshot points out that a “New AAA Title for PS5” was previously listed.
Not much is known about Tomohiro Tokoro, but he previously worked on Final Fantasy XV as the lead 3D character model artist and graphic director. He also worked as a character modeling designer for Final Fantasy XIII.
Luminous Studio was founded with the purpose of designing new AAA titles and innovative game content to a global audience. It was created with Final Fantasy XV director Hajime Tabata at the helm, but he has since resigned from his position at both Square Enix and Luminous Productions.