Sony will reportedly reveal a new premium PS5 DualSense controller aimed at professional and enthusiast gamers.

A new higher-priced PlayStation 5 DualSense controller is coming from Sony, sources tell games insider Tom Henderson. The new controller is specifically aimed at pro players and will feature upgrades similar to the Xbox Elite Series 2 controller from Microsoft, including swappable analog sticks, trigger stops, and back paddles.
The new PS5 Elite controller will retain features of previous DualSense controllers including more actuators/trigger haptics, however the new model will be more advanced with trigger stops to increase sensitivity and reduce latency. Another breakthrough feature is being able to completely remove the controller's entire analog stick mechanism.

Analog sticks are typically soldered and fused to a controller's circuit board, but the PS5 Pro controller will apparently let users hot swap analog sticks on demand. This is presumably to combat stick drift, which is a very real thing with DualSense controllers. We experienced it just days after getting a PS5 at launch. It doesn't help the current DualSense controllers use the exact same analog stick mechanisms as the PS4's DualShock 4.
Sony has been late to the party on official premium PlayStation 5 controller upgrades, with Microsoft having introduced two mainline branded Elite controllers. SCUF also introduced three expensive PS5 controller upgrade models in December 2021.
Sony introduced an official DualShock 4 back paddle attachment back in 2019, and older patents from 2019 also show schematics of a controller with back paddles.