Sony will be bringing changes to the Trophy system, right before the launch of the PS5. These changes will be implemented soon enough, and encompass players current Trophies, which will carry to the next generation.
According to a PlayStation Blog post, the Trophy level is getting a big boost. As of now, Trophy levels range from 1–100, but after this update, they will be 1–999. The larger range means that once the update occurs, your current level will automatically be converted to an equivalent place in the new level system. Sony gave an example saying if your Trophy level is 12, your new level will in the low 200’s.
The exact level depends on the number and grades of trophies you’ve obtained. This rework Trophy structure is aimed at being more rewarding, letting you progress more quickly at the start and consistently through. As seen in the picture below, the Trophy icons have been revamped and will be reflected on the PS5/ PlayStation App (at a later date).

Sony did note that this won’t impact previously earned Trophies or Trophy requirements. The update will be available mid-week throughout North America and Europe.