I'm almost 99.9% sure that they will not be picking up this project anytime soon. I can't exactly remember what they said that happened but judging from the tweets from the game's twitter, it seems like their ALL of the game's progress got lost. :(
Before they had made their tweet, the game's progress was almost done and it was set to release in 2020. I'm guessing during the holidays of 2019, something happened to Zodiac Axis's progress to make them drop the project.
They don't have the blog up anymore so I don't exactly know what happen but the old twitter for the game has shown much of their progress during the years of their development.