The recent 8.0.0 update for the PS4 introduced new functionality for voice chats in parties that will go live when the PS5 launches, and pop-ups alerted players can these chats “may be recorded.” People naturally became concerned about this, and specifically regarding conspiracy theories about how Sony might be listening in.
That isn’t the case, however. The Ask PlayStation UK account said on Twitter, “We do not record party chats.”
Hello! The notification advises you that other users may be recording your voice conversation. We do no record party chats. ^PS
— Ask PlayStation UK (@AskPS_UK) October 14, 2020
The purpose of the recording functionality is to give people the ability to record chats and submit them for a moderation review. The feature is only available on PS5, but the pop-up notification that is appearing now is alerting PS4 users that when they are in a chat with a PS5 player, those recordings can be sent to Sony for moderation review.