Frontier have just confirmed in the PlayStation forum - after a year of speculation - that they have no plans to bring Odyssey natively to the PS5 or XBox Series X/S. Essentially this means they're not willing to invest any effort in current-gen architecture for the game on console and are only targeting the 8-year old PS4 and Xbox One.
The game will run on the current-gen consoles, but only in backwards compatibility mode, meaning any improvements available are limited to an unlocked frame rate and improved SSD R/W times. For example, playing Elite or Odyssey on the PS5 will offer a maximum resolution of 1080p.
The lack of investment in current architecture sends a clear message that Frontier do not view the console market as a worthwhile investment, outside of any sales they might pick up via existing players on the 8-year old PS4 and Xbox.
Why then, do we think they are delaying improvements to the PC version of Odyssey for the console release, when the console version of the game has just had it's death-knell sounded?
RIP Elite on console. You were always the unloved step-child.