Recent Job listings on Guerrilla games website suggest it could!
The creator of Horizon Zero Dawn and Killzone, Guerilla Games have recently listed a number of vacancies on their website suggesting that their all but confirmed Horizon Zero Dawn 2 could in fact include some form of online features. These vacancies specifically refer to work on "matchmaking systems, tournaments, clans and leaderboards."
A new Killzone you ask? Well while it very well could be for a new Killzone title rather than Horizon Zero Dawn 2, another recent vacancy posted on the studios website indicates that it possibly relates to a Horizon Zero Dawn sequel.
The vacancy for a "Senior Game Programmer" confirms details such as the studio is working on an "epic open world game" with "ranged and melee weapons, combat and traversal mechanics, player skills, damage and hit responses. inventory and economy systems," The vacancy also states that the successful applicant would preferably have experience in multiplayer.
Hopefully more information will come to light soon but its looking a lot like the PS5 will launch with either an open world, multiplayer Killzone or Horizon Zero Dawn 2 both of which Id be on board for.