Update:
It seems Sony has fixed the issues at hand, as now people in most regions can download the game after over seven hours of waiting. Soclap has mentioned in the tweet below that an exclusive gift is being given to all holders of the Deluxe Edition.
Some people seem to still experience issues when trying to launch the download from the PlayStation store. Try launching from the library, after restarting your console, and please let us know if you're still experiencing issues. Thank you again for your patience!
— SifuGame (@SifuGame) February 6, 2022
Sloclap tweeted an update about the ongoing issues, and Sony is currently investigating the problem.
Update: Sony teams are actively investigating this issue with us, we hope to have it resolved shortly. Thank you all for your patience, we'll make it up to you!
— SifuGame (@SifuGame) February 6, 2022
It seems Sony is rolling out Sifu based on your region. According to a post by Responsible_Carry_68 on the Sifu Subreddit, some people in Asia are now able to download the game. It seems other regions just have to wait patiently for it to roll out in your region.
If you have preordered the Deluxe Edition of Sifu, then Slocap allowed people to play the game 48 hours early on PlayStation 4/5 and Epic Game Store before the official launch on Feb. 8. Yet if you did so on the PS4/5, you cannot currently download the game in any way, shape, or form.
Sifu early access was meant to begin at 1 pm CET, yet people who own the game on PS4/5 could not even preload the game. On the Sifu Subreddit, people are insinuating that this faulty launch has occurred because the preload menu has the date 2/04/2022, which in the UK in April. 2, but in the US, it's Feb. 4.
Sloclap is aware of the issue and is attempting to fix it, but it seems to be more of a Sony issue that is out of their hands.
We are aware that there are issues preventing the download of Sifu through the early access on the PlayStation store, and are very sorry for the inconvenience. We're looking into it with PlayStation to fix it asap, and will update you on the situation very soon!
— SifuGame (@SifuGame) February 6, 2022
This date issue may be why the download of the game cannot happen because it is locked behind a preload on the wrong date. The timer appeared for the early access countdown, but nothing happened the second that timer hit 00:00:00. Instead, some people reset to a different timer for the official release on Feb. 8.
For more news, guides, and info on Sifu, is Sifu a roguelike? on Pro Game Guides.