Now that Microsoft and Nintendo have had their respective turns, it appears Sony will join the showcase party sooner than later.

Jeff Grubb recently spoke with GamesBeat's Mike Minotti in the latest episode of the Games Mess Decides podcast and Grubb shared that Sony is preparing to showcase several upcoming games, saying "There's going to be a State of Play here pretty soon, so there's going to be even more games announced!"
Unfortunately, Grubb was quick to warn fans not to expect much as this will be a "pretty low-key State of Play."
Finally, Grubb had more good news to share. After this "lackluster" State of Play comes more heavy-hitting announcements this Summer, presumably close to this year's E3 2023, which it will be skipping along with Nintendo and Microsoft. Grubb is claiming that the next State of Play showcase will be in "a month or so, maybe a little sooner."
At the moment, Sony has at least two big exclusives scheduled to come out for the PlayStation 5 later this year. The first is Final Fantasy 16 on June 22 followed by Marvel's Spider-Man 2 in Fall 2023. Square Enix and Sony could squeeze in Final Fantasy VII Rebirth before the year ends but the Winter 2023 window suggests that it'll be out by either February or March 2024. Of course, Sony is good for more than two exclusives a year.
Even during the COVID-19 pandemic, Sony released three PlayStation 5 exclusives in 2020, five in 2021, and two last year (Gran Turismo 7, Horizon: Forbidden West, and God of War: Ragnarok, among others, also came out for the PlayStation 4). After Forspoken earlier this year, Sony will likely announce several other incoming PS5 exclusives and a State of Play in March is the perfect avenue to do that.
Speaking of Sony, the console manufacturer recently showcased the biggest games coming to the PS4 and PS5 this year. Also, the PS Plus Collection will be removed in May, so if you have a PS5 and a PS Plus subscription, now's the best time to redeem the entire lineup. Finally, Sony is teasing a God of War: Ragnarok announcement at Superbowl LVII on February 13.