Diablo 4 was announced in September of last year, but new information on the project has been relatively scarce. Players still don't have a release date or know whether it will release on next generation consoles as of yet. Given that there has been no indication of a release date, many are speculating that it will actually release next year. If that were the case, then a PS5 and Xbox Series X version is almost guaranteed. Unfortunately, it is difficult to say without knowing the actual release date.
The original Diablo released in 1997 on PC, but received a PlayStation port in 1998. Diablo 2 would release 13 years later in the year 2000, but this title opted to skip a console release and remained exclusively PC. Diablo 3 would revert that decision, as though it was PC only at its launch in 2012, a year later saw the first console ports of the game. Throughout the following years, more and more consoles would be added to the list, but there are a few notable patterns in this release schedule that point towards the likelihood of a Diablo 4 release on PS5 and Xbox Series X this holiday season or later in 2021.
For starters, there have been about 12 to 13 years between releases of mainstream Diablo games historically, but with Diablo 4 already announced, it seems that pattern may be broken soon. It is highly improbable that Blizzard will make fans wait until 2024 before releasing a game it teased in 2019, after all. Still, eight years is a little short, meaning it wouldn't be surprising if Diablo 4 doesn't launch until 2021 or possibly even early 2022. If this happens, the game will most definitely launch on next gen consoles, although it is likely to be sooner rather than later since it is confirmed for current gen ones. Also, Diablo 3's multiple re-releases shows that Blizzard isn't afraid to port a game to a new console, so even if it does release before the next gen consoles, a port will probably happen.
It is very possible that Diablo 4 gameplay will make an appearance at the PS5 reveal event coming soon. Unfortunately, though fans were looking forward to a June 4th reveal, Sony has postponed its reveal event so that more important voices can have the spotlight. Even still, if fans are to hear anything about Diablo 4 anytime soon, that seems like the most likely place.
There is no word on when the PS5 reveal will be rescheduled to, so for now fans will simply have to wait, but Diablo lovers can take heart knowing that the sequel will almost certainly make an appearance on the new consoles. Best case scenario is that Diablo 4 acts as a launch title for the PS5 and Xbox Series X, but even if it doesn't release with those consoles it will only be a matter of time before a port brings the game over.
Diablo 4 does not have a release date yet.