Work on this update started around mid October, and the dev time has been a consistent 3 months for a while. I wouldn't expect the public release until at least mid January to early February, however it might take longer than usual because the developer has stated the next public release will complete the main story.
After that at some point in the future (not immediately) Collage Daze will be remade into Renpy with bonus content of all the Patreon voted side stories and possibly even unlocking the major lights in the first two days. That will be a larger undertaking so until work begins on that, I wouldn't expect development to start for at least a year or two.