Lol... delaying it may actually mean it ends up costing more when you are ready to release it. Are you not seeing that the PS5 cost more today than it did at launch? Almost 6 years later. Thats the reality of the world we live in today.
Another way to look at this is, right now, making hardware that actually amounts to a generational leap over the PS5, will mean that that hardware will cost at least $800 to make. And mind you, this would still put it in that midrange PC category at its time of launch, which all consoles tend to fall under in their year of launch. Now you aren't going to realistically expect everyone to be able to afford an $800+ console, so you try and scale your portfolio, hence, PS6 home console at $800 and PS6 lite/handheld at $450. Cause that's what $450 will get you right now, a PS6lite.
The real crazy part is... can you imagine what an equivalent speced PC to the PS6 will cost? You will be spedning $750-$900 to get a GPU that will match it, and that's just the GPU, you will still have to buy a CPU, RAM, SSD, Case, PSU....etc.
Yeah, point is.... EVERYTHING is more expensive these days. When the PS5 launched, its GPU equivalent (RX6700xt) cost around $475 and was released over a year after the PS5. Again, that was just a GPU. So this is nothing new, the value proposition for consoles has always been that what you would pay for a whole console is equivalent to what you would pay for that console's GPU equivalent (more or less).
Things have just got a lot pricier.