That latter technology will be reserved for the 12.9-inch M2 iPad Pro, which will also support 5G connectivity and come with a 128 GB base model for a price starting at US$1,099.
This would actually mean the M2 iPad Pro tablets would be priced at the same level as the current M1 variants, so one would presume that the older devices will have their price tags cut rather than Apple releasing the M2 versions at higher prices.