Forever Entertainment have confirmed that, contrary to popular belief, Panzer Dragoon II Zwei: Remake has not been cancelled and we can "safely assume" it is in development, unless stated otherwise.
There have been a number of messages on the Forever Entertainment Discord asking whether Panzer Dragoon II Zwei: Remake has been cancelled. It has not been cancelled; the upcoming remake of Panzer Dragoon II: Zwei is still very much a work in progress. A new FAQ was recently posted in the #FAQ channel answering the much repeated question:
Is the remake X still being worked on?
You may safely assume it is, if it’s not officially stated otherwise. Official announcements are posted on this Discord server as well as on our social media profiles. Any speculations will be removed from the chat so the new members aren’t confused about the official statement.
Monika Ginter (Marketing & Communications Manager at Forever Entertainment) has also confirmed that the game is work in progress. Although the game was previously stated to be released in 2021, this was an “unfortunate” tweet made by someone who no longer works at Forever Entertainment. There is no confirmed release window for Panzer Dragoon II Zwei: Remake.