New socket is likely, but it's not clear at the moment. It also depends on when Intel and AMD want to introduce DDR6. Currently, it looks like DDR5 still has a lot of fuel in tank. It can go beyond 12,000 MT/s and official support today is 6400. So, DDR5 can easily continue for at least two more generations. This would be in line with new IOD that will be introduced for Zen6 and then repeated on Zen7, as they usually go with the same IOD for two generations. I don't think they will redo IOD after one generation just to introduce DDR6.There is slim to no chance of Zen 7 debuting on AM5. If the specs/rumors in this post are anything to go on, significant departures on ccd, core type/arrangement, and hybrid designs will most likely require different a socket/pinouts.
Also, AMD can easily introduce two forks of Zen7 CPUs on desktop platforms, one new and premium on a new socket, and another one for legacy mainstream whereby AM5 platform can still continue for another generation with new cores only.