The best bet would have been a PS5 Refresh.
Ignoring all the rumors, think about generations as of late for a moment.
With the way technology features are progressing, a refresh may be more viable than a Pro model.
With ai upscaling and frame generation technology, bumping up specs to make a pro model like PS4 Pro and having a base model at the same time isn't viable right now with wafer cost.
Sony would stop producing the old PS5 chip and only produce the PS5 Refresh chip.
5nm would be a good choice.
This PS5 Refresh would have similar specs to the PS5.
Zen2
-8 Cores
-3.5 GHz (3.85 GHz High CPU Frequency Mode for Performance Mode - 10% increase)
-16MB cache - 2× increase
RDNA2/4 hybrid
-36 CUs
-2.23 GHz (2.45 GHz High GPU Frequency Mode for Fidelity Mode - 10% increase)
-Dual-issue
-RDNA4 RT/AI Accelerators
GDDR6
-16GB
-256-Bit Bus
-18Gbps
-576GB/s bandwidth
Dual-issue alone would double performance if Sony utilize it to its fullest.
36CUs × 4 SIMD32 × 32 × 2 × 2.45GHz = 22.57 TF.
Add AI upscaling and frame generation on top of that, you get a better upgrade than PS4 vs PS4 Pro.
Dev won't need to optimize for this PS5 Refresh, they only have to focus on the base model. The new features of the Refresh would work without dev input.