I doubt that a third party company publisher like 110 Industries or Deep Silver
is going to develop or release a new gen only title in the next 1-2 years.
It doesnt really make sense to limit something like a new Shenmue game to a potential userbase
of what? 20-30 mil people?
When you can have a potential userbase of about 120-130 mil with the PS4 + PS5.
Sure, it would be great to focus on new gen power, performance and graphics only
but why should a independent third party company ignore the old gen?
That would mean that they are pretty much ignoring the money of the old gen userbase
and why should they do that if its not sponsored or published by Sony / Microsoft?
That would mean Shenmue 4 is gonna have a even more limited release than Shenmue 3.
So if Shenmue 4 has a lets say 2023, 2024 release target, i'm sure its gonna be available on old gen too.