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PBEM is possible. If you're looking for players, I suggest to join DreadReaprs Multiplayer Community on discord (there's a link in one of the pinned threads).
 
Is Age of Wonders Planetfall play by e-mail? Or does everyone have to be online at the same time?
Functionally yes, but to be more exact it isn't like AoW2 where you'd actually send the turns by e-mail. The files are too big now apparently so everything is stored on an online server and you get a mail when it's your turn (like AoW3)
The best new addition in Planetfall is that a running game can be switched between "PBEM" and simultaneous play, so when you and your friends are all online you can play simultaneous and switch to PBEM style when not everyone is on :)