GTA 5 will be available on PS5 and Xbox Series X for free on March 15

gamesradar.com:

A next-gen version of GTA 5 and GTA Online is heading to PS5 and Xbox Series X for free on March 15. 

Announced in the latest Grand Theft Auto community update, Rockstar revealed that next-gen versions of Grand Theft Auto 5 and Grand Theft Auto Online will be heading to PS5 and Xbox Series X|S in just a few weeks time. The announcement read: "We sincerely appreciate the entire community’s support over the years as the game now heads into an unprecedented third console generation."

What makes it worth upgrading to the latest-gen console then? According to the update, the PS5 and Xbox Series X versions of GTA 5 and GTA Online feature new graphics modes with up to 4K resolution, up to 60FPS, texture and draw distance upgrades, HDR options, and even ray-tracing. Not to mention the kind of things that come with next-gen consoles include faster loading times, immersive 3D audio, haptic feedback, and more. 

If you’re a little apprehensive about swapping over from your PS4 or Xbox One, Rockstar has some good news. Those already playing GTA 5 or GTA Online on a previous-gen console will be able to transfer both of their GTA 5 story mode progress and current GTA Online characters and progression to the new PS5 and Xbox Series X versions - with a "one-time migration at launch." 

Still not enough to convince you? A new standalone version of GTA Online for PS5 and Xbox Series X will also debut at launch. Not only this, but GTA Online will be available for free for the first three months to PS5 players, "making it easier than ever before for new players to experience everything GTA Online has to offer," as Rockstar explains. 

Perhaps the most exciting news to come out of this update, however, is the news that GTA 6 is “well underway”