Shenmue III publisher Deep Silver has announced that the game is being delayed until an unspecified date in 2019. The Yu Suzuki title was originally scheduled to come out in 2017. In a short statement creator said: "To all of our backers, we are very sorry for the delay. After much discussion with our partners, Deep Silver, we have concluded that extending the release will allow us to deliver Shenmue III at its best. We promise to use this time to improve the quality of Shenmue III." Back when the game was delayed into 2018, Suzuki said the team was using new tech to improve the game.
UPDATE 8/22/18 - According to a new trailer, Shenmue III is releasing on PlayStation 4 and PC on August 27, 2019. You can see the trailer below.