CD Projekt RED visual effects artist Jose Teixeira revealed that the development of the game is still in a very early stage. During an interview at PAX East 2016, Teixeria told iDigitalTimes that the studio is shifting its focus from The Witcher franchise to Cyberpunk 2077 due to requests from fans. According to him, the team wants to focus on developing the new franchise. CD Projekt Red doesn't want to delay the upcoming game and have given a release date for sometime in 2017.
"To be honest, the politically correct answer is yes, it is sad (to finish Geralt's story). But the truth is that everyone is so insanely pumped about working on the next project, Cyberpunk 2077. We could've made a million expansions for The Witcher because there's so many stories in that world but everyone is crazy excited about Cyberpunk 2077."
Source: Thebitbag.com