Update: The show has officially been revealed, and we finally have a release date after waiting so long, Persona 5 Royal is coming 31 March 2020!
Several editions have been announced per the norm, but sadly no upgrade feature is happening as far as we know. So even if you have brought Persona 5, you have to buy the Royal edition if you want to have the full experience.
People are excited about the release date, but the no upgrade option has really turned people off, but no doubt will end up buying it anyway. However, releasing in the same month as Final Fantasy VII Remake is a tricky situation, but I’m sure fans will have it completed it no time in time for Persona 5 Royal.
Original: New hints have emerged for the Western release of Persona 5 Royal. Pre-orders for the updated version of Persona 5 on PlayStation Store Asia include English subtitles. This suggests that the Western release will coincide with the Traditional Chinese and Korean versions.
The Traditional Chinese and Korean versions of Persona 5 Royal will release on February 20, 2020, for the PlayStation 4. The Pre-order that went live on the PlayStation Store Asia includes Chinese and English subtitles. Usually, games sold on PlayStation Store Asia with English, Chinese, Korean, and/or Japanese localizations have subtitles that correspond to that language. Persona Central believes this to be a hint that the English version of Persona 5 Royal will release on February 20, 2020.
Recently Persona 5 Royal has been recently registered under the Australian Classification Board, which is another sign for this release window. Atlus also announced the Western and Asian localizations at the same time, which suggest the games will hit the shelves simultaneously.
But, this is all just guesswork in the end. Neither developer nor publisher has announced an official Western release date; however, there is a fair amount of hints towards a February release.