In a new Dengeki interview with Nomura about Kingdom Hearts Melody of Memory, he mentions new titles on the PS5 or Xbox are tentative as they want it to be stunning.

The KH series will take a small break in announcements, but they are working towards 2022, so stay tuned! #KHMoM
Nomura says that since many other PS5 titles have been announced, and they have great quality, he doesn’t want to lose against them. If there is to be a new gen game, it has to be on par with graphics compared to the already announced ones, but this is all tentative.
In regards to the “small break” of new titles, since 2022 is the 20th Anniversary of Kingdom Hearts, the team is working on being able to announce something in celebration for it. Nomura says to keep your eyes out for new announcements in the future.
Xehanort will not be the main antagonist moving forward, but you can follow up with his story from Dark Road.
Nomura says that he was surprised and asked “What’s up with that??” when he learned that fans referred to Yoko Shimomura (composer of Kingdom Hearts) as a “Goddess,” but he himself earned the title of “Papa” LOL.
More clarification on the 2022 thing, Nomura doesn’t specify that there will only be a new announcement in 2022, rather, he says the team is working on something that they hope to announce for the 20th Anniversary, so stay tuned for more info.
This is what Nomura said about the next Kingdom Hearts title, from his interview with Famitsu a few months ago.

The KH team is already working on a new title, so whatever they announce could potentially be released in 2022, or at least coincide with the 20th anniversary. https://twitter.com/aitaikimochi/status/1303002075224104960
In regards to what the story will be from here on out, Nomura says that all the pieces of the puzzle will come together, but he wishes to change the format a bit. Even if the setting of the world changes, the clues left behind will be made clear in this new story.
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