It seems clear that Atlus is at work on a surprise related to Persona 5, but it is not clear whether it is a re-release of the game or maybe a spin-off, what is certain is that the company has registered new domains themed P5.
On December 26 the company, Atlus, has registered the domains of Persona5R.jp, P5B.jp, Persona5B.jp, P5M.jp, Persona5M.jp, P5S.jp, Persona5S.jp. The Persona 5R domain had already been registered in April 2017 and recently transferred to Atlus’s proprietary servers.
According to some rumors, the publisher could announce Persona 5 Reloaded on December 30th during the broadcasting of Persona 5 The Animation Dark Sun, but at the moment it is only a matter of unconfirmed speculation.
While the wording P5B could refer to a fighting game (Persona 5 Battle?), it is not clear what the suffixes are referring to M and S, the latter could be linked to the launch of the game on Switch ( Persona 5 Special or Persona 5 Switch), we just have to wait to find out more.
In related news, it was also suggested that Atlus could be working on Persona 6, however, its been long since we heard anything about a new series.