At least according to Paradox Interactive's CEO, Ebba Ljungerud, who stated in a press release recently that "I do not think it will come in the first half of the year, but we will see."
The statement didn't rule out an earlier release, but it doesn't seem hopeful to say the least. The company had already announced back in August that the game would be delayed into 2021, following a spate of major departures, but it was never clear just when in 2021 we could expect the game to release.
Ljungerud has actually blamed a lack of Xbox Series X and PS5 dev kits as a major reason for the delays, along with, of course, COVID-19. "To be able to develop for the next generation, you have to have development kits from the manufacturers. And I'm pretty sure that both Sony and Microsoft were affected by the pandemic because they did not have that many development kits."
Despite this, you have to believe that the departure of major names including Lead Writer Brian Mitsoda, Creative Director Ka'ai Cluney and Senior Narrative Designer Cara Ellison has also had a major impact on the release schedule.
It was never made clear why the three were let go from the project, but many suspect that Paradox is wanting to take the game in a different direction, which would explain the significant delays.