The developers of The Witcher 3: Wild Hunt are working on next generation of the game.
As stated in the article on the official page:
We’re working on the next generation edition of The Witcher 3: Wild Hunt!
Developed to take advantage of the most powerful gaming hardware, the next-gen edition of the game will feature a range of visual and technical improvements — including ray tracing and faster loading times — across the base game, both expansions, and all extra content.
The next generation edition of The Witcher 3: Wild Hunt will release as a standalone purchase for PC, Xbox Series X and PlayStation 5, as well as a free update for everyone who already owns the game on PC, Xbox One and PlayStation 4.
The title of the new release is: The Witcher 3: Wild Hunt Complete Edition. The game will release as a standalone purchase with DLC’s included.
For current owners of the game, the upgraded version will be free to update.
The release date has yet to be announced, but lead PR manager at CD Projekt Red has tweeted it should be some time in 2021.
Upgraded version of the game will utilize latest gen technology for visual and technical improvements of the game, including ray tracing.