Persona 5 was a very long game even by RPG standards, and the updated version Persona 5 Royal is even longer. It earns its lengthy runtime by integrating social sim elements and RPG dungeon crawling to tell a heavy story and develop its characters. With a brand new story arc that includes an extra palace (dungeon) and series of events, P5R will be taking up a lot of your time.
I'm currently in the process of reviewing the game and have finished it, including all the new story-critical content. According to the overall play time on my save data at the very end, Persona 5 Royal took 125 hours to finish.
The aforementioned story-critical content alone (the new palace and semester of events) added about 18 hours to the original game's runtime. This could range between 15 to 20 hours depending on your own pace.
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