That should help immensely with load times, both at the beginning of games and during actual gameplay. Developers have tried their best to hide in-game loads when possible. In NBA2K18, for example, the main character steps onto an elevator when going up to his apartment, instead of appearing there instantly upon entering his building. That's a load screen.
Sony's patent takes things a step further.
"A system and method are disclosed for dynamically loading game software for smooth game play. A load boundary associated with a game environment is identified. A position of a character in the game environment is then monitored. Instructions corresponding to a next game environment are loaded into a memory when the character crosses the load boundary, such that gameplay is not interrupted," the patent states.
The way it works is rather simple in theory. A game would identify where the load boundaries exist in a game. When the character reaches one of these load boundaries, the game would load instructions for the next game environment into memory. That way once the character crosses a certain point in a scene, the next section (presumably a little bit past the load boundary) would already be loaded and ready to go.
Of course, Sony's implementation is a little more involved. However, the point is that seamless transitions from one place to another in an expansive landscape would be possible, or at least reduce the load time (it wouldn't necessarily be eliminated altogether, though that would be the ultimate goal).