I'm going to go against the grain here and say "no"..
If the PS4 Pro and Xbox One X turned out to be widely popular, then I could easily see a mid-gen refresh happening again.. but considering that the vast majority of people continued to purchase and play on the base models, both companies may not see the point in going down that road again..
the mid-gen refresh may very well go down in gaming history as a one-time experiment.. with game streaming on the horizon along with all games seemingly coming to PC across the board, (not to mention the continued chip shortages and bot scalpers) I'm not sure if anyone is even asking for new consoles within the next 2 years..
That said, I buy a new phone and laptop every couple years so I'd have no problem buying a new console.. so I do totally understand the logic and appeal of new hardware..
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