After serious delays, next-gen version of Witcher 3 is apparently coming out soon. It was promised to come in 2021, but the first delay pushed it back to second quarter of 2022. Unfortunately that delay did not suffice to provide time needed to fully finish the project and another delay was announced.
Considering that there was also a new Witcher saga coming with multiple games as recently announced, it was quite an amount of work to do for the company. Previously, Saber Interactive was responsible to develop the PlayStation 5 and Xbox Series X/S versions of the game but the second delay mentioned above was required due to bringing the project back to in-house development.
Despite two big delays, developers dismissed the claims that the progress was stuck in development hell. Finally we are looking at a more reliable release date at the end of 2022. The standalone version for consoles will also include DLCs that contain items inspired by Netflix series.
CD Projekt Red had a tough time for last two years after Cyberpunk 2077 became one of the most disastrous releases in gaming history, and they had to reorganize a lot of things to resolve the issues. With some solid patches and recently announced Phantom Liberty expansion for Cyberpunk 2077, now they are also bringing out the next-gen Witcher 3 version which should have already been here long ago.