The rumours appear to have stemmed from Twitter user Idle Sloth, who shared an off-screen image showing the alleged Series V between the Series X and Xbox Series S console. Idle Sloth states that the Series V would fit between the S and X in terms of power. The attached image also suggests that the V would be all-digital, as there's no sign of the disk drive that accounts for some of the Series X's significant bulk.
While the Series X and Series S were known within Microsoft as Anaconda and Lockhart, back in July a third codename, Edinburgh, showed up in the Xbox One's operating system. There's no official word on what Edinburgh might refer to at the moment, but the two potential frontrunners are a more powerful all-digital console and something pertaining to cloud service Project xCloud.
Xbox Series V is a rumoured all-digital Series X
Xbox Series V rumours could explain Xbox Edinburgh codename
www.gamesradar.com
Personally, I think it's bs but worth discussing considering the Edinburgh codename is still out there.
Leak my SKU if old.