Yes, it is happening. Fallout 4 is finally getting that promised next-gen update, bringing the wasteland experience up to a silky smooth 60fps with increased resolutions on PlayStation 5 and Xbox Series X/S.
This update, which is free, includes native applications for PlayStation 5 and Xbox Series X/ S, Performance mode and Quality mode settings, as well as stability improvements and fixes.
Those playing Fallout 4 on PS4 and Xbox One, meanwhile, will be greeted with improved stability as well as login and quest fixes.