Apparently, it's not a free upgrade for owners of the existing game and only owners of the "Ultimate Edition" will get the free PS5 or xXxBOX Series xXx upgrade once the new consoles launch, which, as you can imagine, has some people up in arms. I don't know what the price of the "upgrade" is. If they expect you to pay full price as a previous owner that would be a **** move. If you own the game and all the expansions/season pass already then they should upgrade you for free, as far as I'm concerned and if you don't own the expansions then just basically charge you for whatever expansion(s) you are missing, but we'll see.
This doesn't affect me, since I don't own the game yet nor am I getting one of the new consoles, not at launch, anyway. I wouldn't be playing it on a console in any case, but I do look forward to getting the game and playing it on my new desktop rig once I build it in a couple months.