Sony's next-gen PS5's release date is expected to launch after the Xbox Series X, sometime in mid-November, sources tell VideoGamesChronicle.

In a not-so-surprising revelation, key retail and inside sources think the PlayStation 5 will release sometime in mid-November. This aligns with everything we've heard so far and reflects Sony's traditional console launch timings, which revolve around Black Friday and pre-Christmas spending.
While no exact date has been given by Sony or other sources, recent game release dates may have outed the PlayStation 5's November launch. Two big next-gen games, Black Ops Cold War and SEGA's Yakuza: Like a Dragon, are slated to release on November 13, 2020. We believe the PlayStation 5 will also release on November 13.
This timing is suspect. The Xbox Series X will release November 5 as per the new next-gen controller leaks. Both games launching on November 13 gives enough overlap so they could launch on both systems. It could just be a coincidence, or it could indicate the PS5's launch.
Sony has yet to reveal neither pricing nor launch of its next-gen PlayStation. The pricing is expected to be at least $499 due to higher production costs of the 7nm SoC, and increased costs of the PCIe 4.0 SSD flash and GDDR6 system memory.
