Yes, in case you missed the news, Persona 5 Royal will be available tomorrow exclusively on Playstation 4.
The original Persona 5 was actually released in 2017 but a remastered version and some new content.
For example, it brings two new playable characters gymnast Kasumi and the school counselor Takuto. Kasumi. There is also a new semester bringing a side story to the main story. The end is also different and better. There are also a lot of small changes but it would be too long or spoiling to discuss here.
For those who never played the game, it is about a group of high school students who have physical manifestations of their inner psyche called Personas. It is actually based in Tokyo with some real locations. In Persona 5 Royal you mostly play as Joker which is the leader of Phantom Thieves of Hearts, a group trying to change criminal hearts and mind through the Metaverse (where they can use their Personas).
Basically, if have never played Persona 5 but you like Japanese RPG then you should go for it. If you have already played Persona 5 but are interested to do it again with improvement, then go for it too.