That whole "global pandemic" deal has set the schedule back, but New Horizons will truck on.
The next Animal Crossing: New Horizons update drops this week, and Nintendo has publicly committed to more.
An update will be available tomorrow (US time) that will bring back weekly fireworks shows and add new seasonal items. Additionally, Nintendo of America tweeted the below:
In addition to these updates, more free content for #AnimalCrossing: New Horizons is currently in development for later this year. More information will be shared in the future, so please stay tuned. Thank you for your support and patience.— Nintendo of America (@NintendoAmerica) July 27, 2021
New Horizons is currently at version 1.10 pending this week's update.