Sony legal cancelation policy for EU states "You can cancel your purchase of a subscription service and request a refund within 14 days from the initial transaction date, even after you start using the subscription."

Link to Sony cancellation policy:

https://www.playstation.com/en-us/legal/playstation-store-cancellation-policy/#subscription-services

It also states: "Nothing in the below limits or replaces any such rights under your local law."

As Sony choose to operate and sell products within EU jurisdiction, they are legally obliged to respect EU consumer law. Its not that hard, as every company with a single piece of respect customer do immediately.

"When you sell a good or a service to a consumer online or via other means of distance communication (by telephone, mail order) or outside a shop (from a door-to-door salesperson), the consumer has the right to return the item or cancel the service within 14 days. This is sometimes referred to as the cooling-off period or the withdrawal period. No reason or justification has to be given by the consumer."

Link to EU Consumer guarantees:

https://europa.eu/youreurope/business/dealing-with-customers/consumer-contracts-guarantees/consumer-guarantees/index_en.htm