With respect to current generation consoles, the generation is about 2 years and 9 months in, and it's still barely even started. Cross gen has lasted longer than any other point in console gaming due to the pandemic, economy, hardware availability, etc.
Both PlayStation 5 consoles and Xbox Series consoles, at least in North America, are pretty easy to get now, and leaving last generation consoles behind overall makes sense.
The main thing you need to decide is if it's worth getting a current generation console for one game now, and hopefully more later on, or if you should wait.
If you're going the PlayStation route, there's also the rumour of a PlayStation 5 "Slim" coming soon, and also a PlayStation 5 Pro (very curious to see how that'll work, economically).
If Xbox, it's whether you want to splurge on an Xbox Series X, or save some dough and get an Xbox Series S.