While the new-gen update for Cyberpunk 2077 has been underway for quite some time now, the The Witcher 3: Wild Hunt Complete Edition Postponed for PS5 and Xbox Series X|S.
In an update from developer CD Projekt, the re-release was postponed indefinitely while the internal studios continue to work on it.
For this explained CD Projekt:
“We have decided to have our internal development team complete the remaining work on the next-gen version of The Witcher 3: Wild Hunt,” said CD Projekt RED. “We are currently evaluating the scope of the work to be done and therefore have to postpone the Q2 release until further notice. We will keep you updated as soon as possible. Thank you for your understanding.”
We have decided to have our in-house development team conduct the remaining work on the next-gen version of The Witcher 3: Wild Hunt. We are currently evaluating the scope of work to be done and thus have to postpone Q2 release until further notice. 1/2
— The Witcher (@thewitcher) April 13, 2022
In addition to technical improvements such as ray tracing, it includes The Witcher 3: Wild Hunt On PS5, this also includes all updates and previously released DLC. Those who already own the RPG on PS4 will also receive a free upgrade.
Besides The Witcher 3: Wild Hunt Complete Edition have also started work on the new The Witcher Saga CD Projekt began implementing the project using Unreal Engine 5. Furthermore, they maintain DLC support for Cyberpunk 2077 firmly, as has only recently been confirmed.

If it's that far away, then I might as well get the Xbox version on sale.
This already runs at 60fps on Xbox One X
The men and women in Poland have embraced Western culture and arrogance. Now they can't get anything right anymore. That's what happens when you sell yourself out to money-grubbing investors for a few dollars.
What a shame about the studio.