If SE wants to be acquired by Sony, I’d be surprised that they’d allow their western studios to be Embraced™ unless that was an attempt to make themselves desirable/affordable.
To me, it's almost certainly the latter. Offloading the studios also offloaded a portion of their debt/costs, with their remaining portfolio of the games more focused on some specific genre heavy hitters (Dragon Quest, Final Fantasy). It's probably an easier pitch now to Sony because it's cheaper and a more focused package you're receiving (arguably the "leader" in the industry for JRPGs). Previously, you would be paying a lot of money for a mixed bag of properties, genres, and degrees of 'success'.
I remember the Embracer sale being notable for how 'cheap' they got everything, which does seem to align to the theory that it came with a certain amount of debt/monetary obligations.
I personally do not think that a Sony acquisition of the remnants of Square Enix bodes well for fans of the company's recent archival work (i.e. digital re-releases of their entire backlog), nor for genre traditionalists. Sony has never prioritized that, especially now, and generally has shifted its entire focus to "what will appeal to the US audience." I think we'll get a series of Final Fantasies that try to emulate Elden Ring in both tone and (half-baked attempt at) gameplay.