I would not be surprised if it does release on the PS5/XB4. But it will probably be a cross-gen release with some rendering tweaks/optimizations.
2077 will benefit launching into the install base of PS4/XBO. Just how Rockstar operates with their titles which is the model CDPR is building into.
1. Focus on longer-dev cycles with a high-impact release.
2. Focus on best-in-business single-player experiences. (Role-playing in CDPR's case, Open-world in Rockstar's.)
3. Develop portfolio of stand out titles with little direct-competition.
4. Rockstar also focuses on releases games once a console has a large install base to capitalize best on marketing campaigns and strike while interest is high to the largest market possible. I'd presume CDPR is aiming for this, we already know that GTA6 will be an end of generation game with a next-gen polished version coming probably two years after.
CDPR then additionally focus on PC first, with only marginally compromised console experiences. (Shoot highest, come in higher.)