Next-gen version is current in development.
The Witcher 3: Wild Hunt

CD Projekt Red announced today that they are currently working on a next-gen version of The Witcher 3: Wild Hunt. This next-gen version is slated to arrive on the PlayStation 5, Xbox Series X, and even the PC at some point in the future. It will feature a range of visual and technical improvements including real-time ray tracing and faster load times. These improvements are being made to the base game, both major expansions, and all additional content.

This next-gen release of The Witcher 3: Wild Hunt will be available as a standalone release on all platforms. If you already own the game on the PC, Xbox One, or PlayStation 4, you will get a free update without the need to re-buy the game.

We will have more details are they are made available to us.