CD Projekt confirmed anyone who purchased the game on either PlayStation 4 or Xbox One will receive the next-gen update for free.
CD Projekt Red to Offer Free Cyberpunk 2077 Upgrades to Next-Gen Console Versions
How To Upgrade Cyberpunk 2077 PS4 To PS5 Version
Only Control Ultimate Edition owners will receive its free next-gen upgrade
Cyberpunk 2077 Gets Free Next-Gen Upgrade on Xbox Series X, Presumably the Same on PS5
Cyberpunk 2077 on Xbox Will Upgrade to Series X Version for Free
Cyberpunk 2077 Jumps to Next-Gen With PS5, Xbox Series Update - CNET
Cyberpunk 2077 Patch 1.6 Is the Last Major Update for PS4/X1 as Team Moves Focus to Current-Gen & PC
The Witcher 3: Wild Hunt Releasing As A Free Update To Existing Owners
Next Gen Upgrade Release Date on PS5 and Xbox Series X