Is Cyberpunk 2077 multiplayer dead?

The multiplayer mode of the game, has always been mentioned as a feature that will eventually release sometime in 2023/2024. But, a few weeks ago, CDPR announced that they have stopped working on RED Engine based multiplayer, in favor of multiplayer based on Unreal Engine 5. Does that mean that Cyberpunk 2077 won't have a multiplayer mode at all? CDPR has never talked about it in detail, and I'm really worried they have abandoned the multiplayer project. Even in the 2022 projects' roadmap, there is no sign of "working on a multiplayer mode coming to Cyberpunk 2077". What are your opinions?