The PlayStation brand is synonymous with horror games. Even if some franchises have since gone multiplatform, the last-gen console, PlayStation 4, still had a handful of nightmare-inducing exclusive titles like Supermassive Games' Until Dawn and the less-horrifying but equally effective Days Gone by Bend Studio.
Unfortunately, save for Ghostwire: Tokyo, the PlayStation 5 has no such offerings, but it looks like this is changing soon.
According to a Firesprite Games job listing spotted by users on ResetEra, Firesprite wants to hire a Narrative Director to work on a "AAA narrative driven horror-adventure game." In addition, the said game will use Unreal Engine 5, hinting at incredibly immersive visuals that haven't been explored yet in a horror game. Admittedly, Firesprite isn't the most popular and proven studio, but it is backed by PlayStation Studios, suggesting that this will be a noteworthy title.
Also, speaking of backing, now that Sony owns Firesprite, it's all but guaranteed that the upcoming horror project is going to be exclusive to the PS5.