https://twitter.com/NinEverything/status/1624162050762235905
They confirmed the next entry is indeed still continuing development. It was teased all the way back in 2018.
When Soul Hackers 2 was announced for Xbox I predicted other Atlus games were coming (I said I think Re;Fantasy and Persona 6 will be on Xbox day 1) but I left skepticism on Etrian. I think with this that EO Next will be a Switch/PC only title (technically wasn’t wrong when I said multiplat development, Switch and PC 
).