Straight from SONY and updated in March
How do I cancel a pre-order?
How to cancel your pre-order depends on whether you wish to cancel before or after payment has been taken from your wallet.
Before payment has been taken
You can cancel your pre-order via Account Management up to the time that payment is taken from your wallet. You will usually be charged two days before the expected release date although this can vary. We will send you a confirmation email on the day we take payment.
As long as you have not received the payment confirmation email, you can cancel your pre-order by going to Transaction History on any devices activated on your account:
Go to your Transaction History - find out how to check your PlayStation Store transactions.
Find the pre-order that you want to cancel - the purchase date will be the date that you placed the pre-order. If it is still before the release date there will be an option to cancel the pre-order.
After payment has been taken
If payment has been taken from your wallet, you can still cancel your pre-order at any time before the release date. Even if the release date has passed, you can cancel your pre-order up to 14 days after payment if you have not started downloading or streaming the content to your device. Please note that downloading may happen automatically if you have enabled Automatic Download in your system settings.
After you’ve cancelled the pre-order you will receive a refund of the purchase price to your wallet.
To cancel your pre-order after payment has been taken please contact us.