Earlier today, with the PS4 firmware update 8.00, among the news was a notification that the user received that voice chats can be recorded for moderation. As there was no clarification on the part of Sony, it was believed that all chats were recorded as proof of conversation.
Sony clarified, via an update on PlayStation.Blog, that this is a feature that will be available on the PS5 and will be done by the user. See the full release:
After today’s update, users can receive notification about Party Security, and that group voice chats can be recorded. Recording voice chat for moderation is a feature that will be available for PS5 when it launches, and will allow users to record their voice chats on PS5 and deliver them for moderation review. The notification they are seeing on PS4 now is to inform you that when you chat with a PS5 user (after launch), they can deliver these recordings from their PS5 console to SIE.