Ubisoft has revealed that Rainbow Six Siege will be getting a next-gen upgrade before the end of the year. The PS4 and Xbox versions of the game will get free upgrades to the PS5 and Xbox Series X/S, adding in support for 4K and 120fps gameplay.
Ubisoft have done well with supporting free next-gen upgrades for existing and upcoming games, as you can see here. As for Rainbow Six Siege, there is no exact release date for the upgrade, but it will be before the end of the year.
Ubisoft has also revealed that player progressing and in-game content will transfer over to the next-gen systems (within the same family) so you can play across both consoles.
“The game will be backwards compatible, meaning that you can take your disc of Rainbow Six Siege on PS4 and put it in your PS5, or take your Xbox One disc and put it in your Xbox Series X.”
Leroy Athanasoff, via Ubisoft blog post.
As part of the update, the game will also support cross-generation matchmaking, so PS5 players can play alongside PS4 players.