Deep Silver made the below announcement on their blog:
“Deep Silver today announce that their upcoming release Shenmue III has been moved and will now release in 2019. The extra time will be used to polish the quality of the game even further, to the high standards it deserves and release the product in the best possible timeframe. ”
“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. We cannot thank you enough for your enduring support.”
Thankfully, the Shenmue collection featuring the original two games should hopefully still be releasing last this year for PS4/Xbox One.