I personally think this year will be solely focus on making new DLCs and train the new team, while next year will be when they start to make EU5 with announcement at 2023 and release at either that same year or 2024.
That's kind of an insane schedule tbh.
Considering how CK3 had been in works since 2015, I find it hard to believe an EU5 could be developed in one or two years.
Imperator, which was much, much more mechanically simplified and smaller in scope at release, had two years of development (iirc, could've been three).
Comparing the two games at release, it should go without saying that I'd much rather they take the CK3 approach, taking their time with development to not repeat the fiasco that was Imperator's release.
If EU5 starts its development next year, I imagine (and hope for) a release in 2026 at the earliest, which to us means another 5 years of wait.
Which is kind of insane in its own way as well, if I had to guess, I'd say they started development of EU5 back in Sweden, and after Tinto got up and running, Johan is bringing it to Barcelona with him, so the final DLCs of EU4 are being developed in parallel with EU5 (as it was with CK3).
That's the only way I see a release in 2023/2024 as feasible, assuming a good product of course.
I remember reading several interviews where they mention that a Paradox game typically created in a year
I remember reading that it was like that in the past, with PDS being only one dev team consisting of a handful of people releasing new games on an yearly basis.
But now games have become more complex and dev teams bigger, so it's no longer possible to do that.