It's certainly been a long time coming, but now Shin Megami Tensei 5 is finally on the road to a worldwide release. That release might be coming a little sooner than expected, if Sega's recent financial report is anything to go by.
Sega has just published their financial report for April, May, and June 2020 today (as first spotted by Persona Central). Additionally, a brief section of the report detailed games to be released by the end of the current fiscal year ending March 2021, and that section includes Shin Megami Tensei 5.
However, don't take this as a guarantee that Shin Megami Tensei 5 will definitely launch before March 2021. It's more a statement by Sega that, if everyone remains on track and according to plan, the sequel should release by then. In the age of COVID-19 in particular, game releases and development plans can change constantly.
Aside from Shin Megami Tensei 5, Sega already announced that there would be a remaster of Shin Megami Tensei 3: Nocturne. We already knew that this remaster was planned for a release in Spring 2021, and when it does eventually launch, it'll be coming to both the PS4 and the Nintendo Switch—unlike Shin Megami Tensei 5, which is only planned for a Nintendo Switch launch right now.
It's been a long road for Shin Megami Tensei fans, ever since the fifth game was announced way back in 2017. News on the game went dead silent very shortly after it was first revealed, and hope only returned when it resurfaced last month in July in a mini Nintendo Direct. But hey, the game is still very much alive, and it could be with us by March 2021.