Five to ten years gets you Ready Player One. VR headsets will be smaller, lighter, less annoying to put on and take off, and should have graphics equivalent to 8th generation consoles, assuming they're standalone devices. Maybe by then, games on weaker hardware will use AI solutions for perfecting visual realism, if that's what they're trying to achieve.

The increasing use of Generative AI in game development will be revolutionary in how games are designed by developers and customized by the player to their tastes, but even with that added, VR won't be an equivalent experience to something like the Matrix or Sword Art Online. You'd need a consumer ready, wireless brain computer interface and there's little in the news that suggests that one is imminent.

For reference:

DARPA is funding multiple research teams in search of non or minimally invasion BCI systems.
Ray Kurzweil is counting on advanced nanotechnology debuting in the 2020s, making full dive possible in the 2030s. Full immersion VR becomes common in Kurzweil's 2040s.
Gabe Newell thinks that "We're way closer to the Matrix than people realize" and that "it's an extinction-level event for every entertainment for that's not thinking about this."
Alan Thompson predicts that by 2026, using Synchron brain implants means that, "Dreaming up a movie concept with your favorite celebrities may allow you to experience that immersive 'film' instantly, created for you and your thoughts, and available for you and your family to experience in a resolution that is way beyond IMAX!"