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It's long been rumored that name changes haven't been possible because Sony's database was so jumbled and held together with gum and strings that it made it near impossible to allow for name changes. Well, it seems as though Sony has gotten around to fixing that and perhaps even included some of the needed groundwork in the recent 6.0 firmware update.
Now, some developers are saying that name changes are coming soon to PlayStation. Kotaku cites no fewer than four different sources that have claimed PSN name changes are coming. Three sources from three different studios have said that they've been "fixing bugs, tweaking settings, and ensuring that their games are compatible with Sony's plans."
Their fourth source shared a photo with them that shows off a PSN profile that contains an option to "edit username." The photo was for a guide on how to change your name on the PlayStation Network that came from internal Sony documentation.
Obviously, Sony hasn't officially announced anything just yet. As such, it would be foolish to even attempt a guess as to when this will happen, how much it may cost, or if there are any additional limitations.
If it falls under GDPR laws there should be no cost or limitations to changing your name, as companies need to allow their customers to change or delete their personal data, including aliases, without question... at least in Europe, but in most cases those changes are rolled across the rest of the service.