Game has entered pre production with half of the main development team assisting. The rest of the team are still polishing Rebirth before it's release. Some of it's music has already been recorded and is currently awaiting mastering at a external studio in Japan - a big note to mention is 'One Winged Angel' has been recorded and listed multiple times, potentially this means there are different versions of the song that will be used in Reborn.
All game scenarios are complete. The game will obviously be building from the tech used in Remake and Reborn. No release date was stated, but a tentative schedule for Q4 2025 was mentioned. All information above has been taken from an anonymous English speaking Square Enix employee who has confirmed they currently work in the Narrative Design department.