It's been announced development has shifted from Hardsuit Labs to Paradox Interactive:
we have made the hard decision that Hardsuit Labs will no longer be leading the development of Bloodlines 2 - which also means that we will not be releasing in 2021 as previously planned. Since we cannot at this time communicate a new release date, we've also decided to stop accepting pre-orders for the time being.
While I have no doubt Covid has played some role in the delays, Vampire The Masquerade Bloodlines 2 was supposed to be released in March 2020. There have been a number of other red flags on the project, including it's underwhelming E3 perfomance in the past.
Most troubling has been amount of high level departures, including senior narrative designers Cara Elison, Brian Mitsoda, and Ka'ai Cluney. It's important to note Mitsoda designed and wrote the first Bloodlines game.
Paradox has also never developed an RPG.