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During Ubisoft most recent earnings results last night, the publisher revealed that "Skull & Bones will now be released in 2022-2023" with the chief financial officer Frederick Duget elaborating on it further by saying: "We strongly believe in the team’s creative vision and they have been given an increasingly ambitious mandate for the game. Production led by [Ubisoft] Singapore has been advancing well over the past 12 months and the promise is better than ever. The additional time will allow the team to fully deliver on its vision."
on a positive note, Ubisoft seems to still be confident in the project, with CEO Yves Guilletmot saying: "What we have been doing to make sure they could really come strongly with Skull & Bones is we increased the associate studios that are working with them at the moment so there’s a good and big team now working on the game and the last 12 months have really been good in terms of the way things were coming along, so we are confident they can really bring something really exceptional for the market."
As someone who found the pirating aspect of Assassin's Creed Black Flag the worst part of the game, I'm personally not really interested in the game but it makes sense to continue development, especially after the success of Sea of Thieves. It shows there is a demand for this type of game, it's just not my cup of tea.