Canadian documentation for a trademark registration has revealed that Sony may be working on a title named RaySpace, although there are no additional details available at the time of writing. Filed on 28th December last year, the submission appears to allude to a new PlayStation 4 game. It sounds like it could be PlayStation VR related, perhaps?
There were a series of RAY games released for the PSone by Taito, so there’s a slim chance that the trademark may be associated with those. Although, while Sony did publish prequel RayStorm in Europe, it doesn’t own the intellectual property, so the connection could all be coincidence. Hopefully we’ll find out more in the near future.