NCARB recently announced that ARE 5.0 is under development, with an expected launch in late 2016. Based largely on feedback from the 2012 Practice Analysis, the exam format will be completely revamped, with 6 divisions, a more practice-based focus, and elimination of the grpahic vignettes. Read their official press release here.
ARE 4.0 will continue to be the primary testing format. A transitional phase, similar to the shift from ARE 3.1 to 4.0, is expected.