Beyond Good and Evil 2 is supposed to still be in development. If this is true, it will have to go on without the help of a key figure.

According to Kotaku, Ubisoft Montpellier will go forward without Guillaume Carmona, the studio's managing director. The reason for Carmona's departure was reportedly not revealed but it's said that he's been absent from the role since the start of the year. Carmona had worked with Ubisoft for close to two decades before his departure.
Kotaku's sources claim that Ubisoft Montpellier is under labor investigation by the local government due to reports of employee burnout.
Here's what a Ubisoft spokesperson told Kotaku about the situation:
The Montpellier development team is undergoing well-being assessments through a third-party for preventative measures and to evaluate where additional support may be needed.
In the same report, Kotaku says former associate director Emile Morel and Charles Gaudron have replaced creative director Jean-Marc Geffroy and director Benjamin Dumaz, respectively.
Technically, Ubisoft hasn't canceled Beyond Good and Evil 2 yet. For all intents and purposes, what it said last month is still true today. But, you can't help but feel like Ubisoft should just move on already.
Beyond Good and Evil was an iconic game that didn't sell well following its release in the early 2000s. In the following years, the game gained a cult following. Ubisoft officially confirmed Beyond Good and Evil 2 in 2017 and we've found out tidbits of info about the in-development game since. However, the project is officially still not in full production in spite of all of what we've heard about it.
Given Ubisoft's recent cancellation wave, it wouldn't be out of character to drop development on Beyond Good and Evil 2, if not officially put it on the back burner.
Ubisoft was reportedly laughed at by other companies while looking for a buyer after it delayed Skull & Bones. The French publisher recently confirmed The Crew: Motorfest and posted a positive update about XDefiant.
Outside of all its confirmed projects, Ubisoft is reportedly working on Far Cry 7, a new Assassin's Creed VR game, more Assassin's Creed titles, and a new Ghost Recon title.