Rumours have suggested that the RPG could launch later this year.
Bloomberg's Jason Schreier has since clarified that he doesn't "expect most games to hit in 2021."
"The game's basically sort of finished - it's in bug squashing mode right now," says an Xbox insider.
Explore life among the stars with these upcoming games.
Journalist Jeff Grubb says Bethesda plans to show off the game at E3, and then launch it a few months later.
The companies' Summer showcases will also reportedly take place separately.
However, delays and other issues may prevent this.
From hotly anticipated sequels to new IPs, here are some single-player titles to look forward to.
Should you put your faith in Todd Howard?
Howard is an executive producer on the recently announced MachineGames title.
Here's what we want in Bethesda's next big RPG.
"I think chasing scale for scale’s sake is not always the best goal," says Todd Howard.
"I look forward to learning about that," says Jim Ryan.
The project's director doesn't want to "string players along."
Director Todd Howard also discusses using procedural generation for world creation.
Unsurprisingly, that is all he says on that matter.
We've heard that one before.
"I think 2-4 million players who would otherwise have owned PlayStation will now own Xbox," says the industry analyst.
If this is legitimate, it gives us our first look at the upcoming sci-fi RPG.
Howard also jokes that it's "getting really good hype for a game no one has seen."