The latest gane of Final Fantasy came almost 4 years ago. Due to all the time that has passed without knowing about a new game of the series (without taking Final Fantasy VII Remake into account, of course), fans think that Square Enix will soon reveal the new project. There is nothing official yet, but it seems that the announcement of the game is imminent and the clues indicate that it will be exclusive to PlayStation 5.
This is believed so, since the ResetEra user Navtra, recognized for leaking accurate information, mentioned that Final Fantasy XVI will be a next generation title and that it will have temporary exclusivity with Sony so that it will only be available on PlayStation 5 during its premiere.
As with any unofficial information or leaks, you may be wondering, "Should I believe this?" Yes, you probably should. The reason is that Natvra has predicted almost a day before the Sony event that a launch title for Ratchet & Clank, a spin-off from Little Big Planet, Gran Turismo 7, the sequel to Horizon Zero Dawn, a teaser for "Spider-Man 2", the remake of Demon's Souls and the new Square Enix IP (Project Athia). All of these predictions were confirmed at the event.
Maybe those predictions were luck, right? Well, it is striking that within that prediction Natvra included "Avengers exclusive DLC", apart from Final Fantasy XVI. Although not in the event, the avengers predictions was confirmed just yesterday in the form of a new character (Spider-Man) for Marvel’s Avengers.
Everything seems to indicate that it is only a matter of time for Square Enix to reveal Final Fantasy XVI, although the question remains why it was not presented at the last event. The truth is that it is not known. However, Navtra assured yesterday, August 3, that Final Fantasy XVI "is real" and that it was supposed to be announced at the June event. According to the user, the exclusivity was previously vague, but he anticipated that now it is known that it will be temporary exclusive and the disclosure would supposedly take place soon. Maybe Sony is saving the news for another event.
Although there is still nothing official from Sony or Square Enix, the possibility does not sound very farfetched, after all, Final Fantasy (and Square Enix) has always been very close to PlayStation. Just remember that the last release, Final Fantasy VII Remake debuted exclusively for PlayStation 4 and is still unavailable on other platforms so far.
It is important to note that Square Enix would announce its news between July and August, so it is very likely that very soon we will know about the new installment of Final Fantasy.