Console generations lasting around five years before their successors come out hasn't even been a thing for years.
The Xbox One and PS4 came out eight and seven years after the releases of the 360 and the PS3 and the Xbox Series X/S and the PS5 came out seven years after the Xbone and PS4.
The only recent console that came out at around the five year mark of their predecessor was the Switch, but that's more likely because of how much of a massive flop the Wii U was more than anything else.
And jive in the case of the Switch, Nintendo is pretty firm in their statements that the Switch is only in the middle of its lifecycle, so it may last for ten years on the market. (Of course, who knows if they'll release an upgraded 'Switch Pro' variant because the hardware in the OG model is starting to show its age)