Sony is holding a special broadcast on 27th May, which will provide an extended look at Horizon Forbidden West. The PlayStation Blog Post states that it will be starting at 9 AM Pacific, and the main State of Play event, which starts at 2PM Pacific Time.
Sony stated, “This reveal has been a true team effort, and we’re very excited to show you what we have in store. Whether you’ve been with us and Aloy since Horizon Zero Dawn or are only just getting to know this incredible world, we want to share this huge milestone with you and cannot wait to see your favourite moments and reactions.”
And yes, it still might be launching this year. Recently, there have been rumours about Horizon Forbidden West getting delayed. You should not take these rumours seriously because Sony’s latest advertisements are still saying that it is releasing this year according to the latest sponsored ads on Instagram by PlayStationIE; Horizon Forbidden West is still releasing in late 2021, which is in line with Jim Ryan’s latest interview. 
Jason Schreier (An Industry Insider and a Writer for Bloomberg) also commented on Horizon Forbidden West’s situation where someone said, “Horizon will be delayed to 2022 as well. Bet on it.” and Jason replied with “Maybe, but Horizon already got delayed” which means that Horizon Forbidden West has already been delayed internally once it was only supposed to release for PlayStation 4 first “Horizon Forbidden West started development soon after the first game’s successful release and was originally planned for PS4 before the focus shifted to Sony’s next-generation console, VGC’s sources said.”
These are not the only sponsored ads that state Horizon Forbidden West is releasing this year. A new PlayStation 5 Advertisement also states that Horizon Forbidden West is still coming this year.
We also contacted Sony about this rumour, and they have stated that it is still releasing this year.
Editor-In-Chief of Gaming Route