That's according to new reports by Gameblog and Vice, both of which state the event is scheduled to take place in New York on Wednesday, September 7. This puts it just before the start of the Tokyo Game Show, which begins on September 15.
No further details regarding the event or what will be announced were shared. If accurate, Sony will likely send out invites soon with the event just a month away.
There have been reports that the system, code-named Neo, could be released before the end of the year. However, with the announcement of Microsoft's more powerful Xbox, Project Scorpio, it's possible Sony's plans to do so were interrupted.
After months of rumors, Sony officially announced that it was working on a more powerful version of the PS4 in June. Like Scorpio with the existing Xbox One (and newly launched Xbox One S), Neo is intended to "sit alongside and complement the standard PS4."
All PS4 games will be playable on both the existing PS4 and Neo. Sony said at the time it will take a "small but manageable" amount of effort for developers to get games working on both versions of the PS4. Since the announcement of Neo and Scorpio, a number of publishers have spoken positively about this type of midcycle hardware upgrade.