a month ago - last edited a month ago
This is what was said "Based on what we are hearing, The Sims 4 will go from Xbox One (S and X) to the Series X and your progress and packs will go with you. This is based on what we heard in the media and Xbox Wire -" "As far as I know (again from media) the PS5 will be backward compatible too. Once we know more and can confirm things with The Sims 4 on both platforms we'll of course share that with everyone." -SimGuruLegacy (Reference)
TLDR: If the console is backwards compatible then yes, otherwise no. The Guru's will let us know when the new console comes out.