With developer Frontier stating in a recent community update that it will be "a defining moment in the history of the game and it will be our biggest update yet". As Elite Dangerous recently wrapped up a year of free content as part of the Beyond season, Frontier promises that players can still expect regular updates - but the next big thing will take some time.
As per the post, it seems that work on the ambitious and mysterious new update was in the early stages of development last August. With Frontier adding that due to its size and scope "we estimate this major milestone will be ready by the latter half of 2020."
It also makes a special mention of the fact that it will be free for those with a lifetime Elite Dangerous expansion pass. In terms of the development team, most of Frontier is working on the new content with a smaller team focused on continued updates and regular in-game events. Regular game updates are expected every three-four months, with plans to improve events alongside the community.
For more, check out the community update here