Just had a thought pop into my head that I'm sure will happen in the near future, but could also happen tonight.
We know that Sony completed their acquisition of Crunchy Roll about a month ago, but we haven't had an official announcement or even a mention from Sony about it. There has however, been multiple reports (starting about 2 weeks ago) from gaming press that Sony are apparently going to do a more expensive version of PlayStation Plus that will include full access to all the content that Crunchy Roll offers. Sony paid nearly $1 billion for CR, so you'd assume they have long term/tie in plans for it. CR also have their own Original Productions, so I wonder if, down the line, we will see them create anime for some first party Sony IPs (Horizon, God of War, GoT etc) which will hopefully bring more people over to the more expensive tier, as it provides an easier onboarding experience for those who haven't watched anime, but love PlayStation.
Not sure if it will show up tonight but when they do announce this new PlayStation Plus tier, there will obviously be a small introduction to CR, and what content they offer, alongside a brief sizzle reel. I feel like it would be wishful thinking for them to show a full scale Shenmue the Animation trailer, but it would be primetime to include it in a sizzle reel, with a message saying full trailer coming soon or something similar.
Probably a longshot, but out of everything Shenmue related, I feel like this makes the most sense to me
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As Peter said in the latest Shenmue Podcast, I also believe that if Shenmue IV is being made, it would only benefit to hold off on an announcement until it's nearly ready, but also in order to pair it up with Shenmue the Animation. For this reason, I kind of hope that we don't see it, as having both announced at the same time only bolsters the impact and success that they will both have.
Either way, I doubt that we will see anything Shenmue related tonight, but as always, I have my fingers crossed and am very much looking forward to the show!