With the upcoming release of Final Fantasy 16, it wasn't expected that we'd hear anything about Final Fantasy 7 Rebirth anytime soon, but Square Enix has come out to surprise us.
In a statement, the official Final Fantasy VII Twitter has said:
"Question: How is development progressing on Final Fantasy VII Rebirth? Answer: Development is progressing smoothly and according to plan. We are currently working on nailing down a release date for the game- Final Fantasy VII Rebirth Producer Yoshinori Kitase"
Final Fantasy VII Rebirth was first revealed back in June 2022 and was confirmed as releasing in Winter 2023. While this doesn't actually mean the game IS releasing in 2023, the recent statement makes it more likely that Square Enix is looking to hit a definitive release date in that period. If it does release this year, then we would have a year with two massive Final Fantasy games releasing.
The little we do know about Final Fantasy VII Rebirth is that we can expect this to be part of a trilogy that's retelling and reinterpreting the world of Final Fantasy VII.