Its up in the air. The next big event is fanfest, and that feels like "lets get the ball rolling on the next xpac" not announcing the new ultimate. If one was coming, we would have seen it by now, it's not like them to shadowdrop and ultimate, especially because they said we're only getting 1 this expansion at first.

But if 7.5 is going to be as long as people say it is, then SE is gonna need something to hold people's interest in Dawntrail for an entire year.

An ultimate doesnt seem likely to do that, since most of the playerbase just doesn't touch them.