According to Taiwanese media DigiTimes, the largest chipmaker - TSMC - is preparing resources for the redesigned PlayStation 5 between the second and third quarters of 2022. It is mentioned that the new console model will use AMD's 6-nanometer processor. Current models are made in a 7-nanometer manufacturing process.
According to current information, only the redesign of the interior is mentioned, ie the part of the hardware that runs the console. In other words, the announcement of this revision does not yet mean that in 2022 we will get a PlayStation 5 of a different appearance, less bulky, or different colors. Admittedly, there is a possibility that this updated model could come with a higher capacity drive.
None of this is official though, so the information should be taken with a grain of salt for now. In any case, the new model will not be so soon - even if this is true for 2022, with the delay included, we may most likely see it there sometime during 2023.