CD Projekt RED revealed that the sequel to Cyberpunk 2077 won't start pre-production until next year, presumably after the Cyberpunk 2077 expansion, Phantom Liberty, is released. It might not even happen until 2024 if not later.
CDPR's third-quarter earnings report saw president and joint CEO, Adam Kiciski, confirm the company is currently focused on the "final stage of the development of Phantom Liberty," with some 350 people collaborating on the project.
He added that the studio is still working on the new Witcher trilogy and The Witcher remake. Finally, he also mentioned that Project Orion, the codename for the Cyberpunk 2077 sequel, is "probably" not going to start pre-production anytime soon.
According to the company's CFO, Piotr Nielubowicz, CDPR will "accelerate the work on the Orion project done by the new Boston studio," as soon as Phantom Liberty is out. However, if you read further into the financial call, it appears CDPR wants to focus on The Witcher 4 first.
Most likely, CDPR will devote most of its resources to the next The Witcher game before it starts ramping up development on the Cyberpunk 2077 sequel.