Publisher Private Division and developers Squad and Blitworks have announced this. People who already have the game on PlayStation 4 or Xbox One can upgrade to the version on the new consoles for free.
In addition to a regular edition, there is also a Complete Edition, which includes the Breaking Ground and History and Parts expansions. On PS5 and Xbox Series, the game has better frame rates, higher resolutions, and improved shaders and textures. Mouse and keyboard are also supported.
Kerbal Space Program originally came out in 2015 and had been in development for years before that. A lot of new content has been released for the game since then. The sequel has been in the works for some time now. Kerbal Space Program 2 is set to be released sometime in 2022.