Red Dead Redemption 2 has sold nearly 50 million copies since launching in 2018. It could very well go past that 50 million mark with a next-gen version for the PS5 and Xbox Series S or X. Unfortunately, this is no longer part of Rockstar Games' plans.

According to the latest rumor floating around in the Wild West, Rockstar has dropped plans for a next-gen update of Red Dead Redemption 2.
Rockstar never confirmed that it was working on a new Red Dead Redemption 2 version for the PS5 and Xbox Series S/X, but we do believe that the studio considered it and probably was even actively working on it.
Per Tez2, it doesn't look like Rockstar Games wants to ship out a new enhanced version of #RedDeadRedemption2 for next-gen consoles anytime soon.
It's an absolute crime to abandon this game over GTAV. pic.twitter.com/lZWsJTX8sq
— Ben (@videotech_) July 7, 2022
The thing that stands out the most to us is Rockstar "cancelled/halted" the project knowing that the game would have been a sure hit. The worst part is that it appears to have affected what the leaker describes as an "Enhanced Rockstar Editor." Both projects would have kept audiences preoccupied until GTA 6 comes out.
GTA 6 is taking up a lot of Rockstar's resources.
We previously reported that GTA 6 will use the RAGE 9 engine and will feature a single-player campaign revolving around siblings on the opposite side of the law.
Then, Rockstar very subtly put Red Dead Online to rest so that it can focus on GTA 6 and still have enough to spare for GTA Online. We also came across information that Rockstar dropped plans to remaster GTA IV and Red Dead Redemption due to GTA 6 as well as the poor reception to Grand Theft Auto: The Trilogy - The Definitive Edition.
Hopefully, just like with the aforementioned remasters, Rockstar is still open to revisiting the plan to release Red Dead Redemption 2 for the PS5 and Xbox Series S/X once it has finished working on GTA 6.