To simplify the given expression, we need to apply the rules of exponents. Specifically, we will divide the coefficients, subtract the exponents of like bases in the numerator and the denominator, and simplify any remaining terms.
Step 1: Write the Original Expression
We start with the expression:
\[
\frac{2 s^{3} y^{2}}{4 s^{2} y^{5}} \cdot s \cdot y^{-3}
\]
Step 2: Simplify the Coefficients
First, we simplify the coefficients:
\[
\frac{2}{4} = \frac{1}{2}
\]
Step 3: Simplify the Variables
Next, we simplify the variables. For \(s\):
\[
\frac{s^{3}}{s^{2}} \cdot s = s^{3 - 2 + 1} = s^{2}
\]
For \(y\):
\[
\frac{y^{2}}{y^{5}} \cdot y^{-3} = y^{2 - 5 - 3} = y^{-6}
\]
Step 4: Combine the Results
Combining the simplified coefficients and variables, we have:
\[
\frac{s^{2}}{2 y^{6}}
\]
Final Answer
Thus, the simplified expression is:
\[
\boxed{\frac{s^{2}}{2 y^{6}}}
\]