Double Fine Productions and Microsoft have announced that Psychonauts 2 has been delayed, again. As you will know, the game was previously planned to release sometime this year, but now it won't be hitting the PS4, Xbox One, and PC until sometime next year. As for why the game is being delayed, Double Fine doesn't say, but presumably the game simply needs more time.
Psychonauts 2 was announced all the way back in 2015, and was planned for a 2018 release. This didn't happen. And now it's not hitting 2019 either. Hopefully it will hit 2020. The delay could have something to do with the fact that Starbreeze is no longer publishing the game, rather Microsoft is, who recently announced at E3 that it had acquired the long-running studio. That said, Microsoft is still honoring the game's PS4 release, which is probably a good idea given the game's original crowdfunding campaign on Fig mentioned a PS4 version.
A sequel to 2005's critically-acclaimed Psychonauts, it will be interesting to see if Psychonauts 2 can recapture the magic that made the first so special. The current market doesn't seem incredibly friendly to a new Psychonauts, but if the game comes out and reviews well I think it will do just fine, especially now that it will get a proper marketing campaign.
Psychonauts 2 will be available for PS4, Xbox One, and PC when it releases. At the moment of publishing, there's been no word of any additional ports. Below, you can read more about the game:
"Razputin Aquato, trained acrobat and powerful young psychic, has realized his life long dream of joining the international psychic espionage organization known as the Psychonauts! But these psychic super spies are in trouble. Their leader hasn't been the same since he was kidnapped, and what's worse, there's a mole hiding in headquarters. Raz must use his powers to stop the mole before they execute their secret plan--to bring the murderous psychic villain, Maligula, back from the dead!"