GTA Online will also offer exclusive content for next-generation consoles, including the PS5. But there's a caveat: it will only be free for the first three months. Additionally, a new standalone GTA Online will be available for free on the PS5 exclusively. At the online PlayStation 5 event, Rockstar Games announced that an “expanded and enhanced” Grand Theft Auto V will release in the second half of 2021 on the PS5 - eight years after its launch.