The PlayStation 4 and PlayStation5 owners of Monster Hunter Rise are being plagued by a "no saved data exists" issue. Capcom has announced that it is aware of the situation. As such, it is currently working on a PS4 and PS5 patch for Monster Hunter Rise. It is scheduled to launch on February 3, 2023.
Capcom explained what was happening. It all has to do with data irregularities. When one occurs, it will cause the PS4 or PS5 Monster Hunter Rise to display a "no saved data exists" error. The patch will address that problem.
Capcom's complete, official explanation can be found here.
The update for Monster Hunter Rise will be released tomorrow, but some of the larger Monster Hunter Rise changes will not be available until the Spring of 2023. For example, Capcom has announced that the Sunbreak expansion will only be available on PS4, PS5, and Xbox Series X versions until Spring 2023.
Monster Hunter Rise is now available on PS4, PS5, and Xbox Series X. Monster Hunter Rise Sunbreak is now available on Nintendo Switch and PC. The patch to fix the Monster Hunter Rise "no saved data exists" issue should be released on the PS4 and PS5 on February 3, 2023.