Now that the price has dropped $1000 on the 65ES I think I would rather have the Sony than the Epson.
First, the Sony is a better looking projector than the Epson 5040. White is never a good look for a dark theater and the black 6040 is now more expensive.
Second the Sony is much much quieter in higher fan modes which is what I must run at higher altitude.
Third, in a side by side comparison the Sony delivers a more pleasing picture with better skin tones and more natural color. To me the Epson looks too processed looking with e-shift on and with it off it has very bad SDE effect.
Fourth, the brightness on the Epson is only better if you don't engage the color filter. So if you want WCG then you have to settle for low brightness and that defeats the purpose of HDR. In general, I like Reality Creation better than e-shift and motion processing for sports is slightly better on the Sony.
Finally, 1080p content still is predominant content available and I don't see 4K content being plentiful for at least another few years. Sure you can get new movies on Blu-ray in 4k UHD HDR but I personally don't watch a lot of new movies. Most of my content comes from Directv or streaming. Streaming only has a handful of 4k titles that I would even watch and when they are streamed in 4k they are so compressed that they might as well be 1080p.
So for now, rather than spend more for the e-shift pseudo-4K, not so HDR Epson. I think it is a better choice to buy the cheaper better SDR 1080p projector in the Sony. In a few years when true 4K hits lower price points and content is much more plentiful then it will be time to upgrade.