In short, no.
Not as short;
If you want to keep up to date with development i suggest checking the discord. I try to post what im working on regularly.
But no, development hasn't stopped, like Tiny Dracula said, the switch from ue4 to ue5 took a lot of time. Most of the bugs have been fixed now and lots of new features being added. Just haven't released it yet as im working on the full island version and had some performance issues i had to fix.
Short list of stuff that's added in my dev build that should come in next release (full version):
Riding dragons that breath fire, wolf pets that start as puppies and grow up, tattoo system, 27 new character morphs in character customizer and a bunch of smaller stuff, fixes etc.