Current Gen still rocks. Capcom is going to support both next and current gen consoles and PC.
IGN has posted some new footage of the game running on PS4 Pro. I hope that the game will run smoothly than Cyberpunk at Launch.
On the official Resident Evil website it lists all the current and next gen consoles. Hopefully the RE Engine will make it easy to port between these platforms.
Looking at the screens it looks like it can run pretty well on current Gen hardware. There is some lighting differences though which is to be expected since the PS5 and Xbox Series XS have better ray tracing capabilities.

Perhaps the decision to support the current generation of consoles is due to its larger install base and the next gen consoles have not sold a lot yet. It’s a transitional time for now but I believe that eventually we will move to the next gen PS5 and Xbox Series XS.