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Jan 23 - 30, 2023: Steam Base Builder Fest
February 20 - 27, 2023: Steam Mystery Fest
March 16 - March 23, 2023: Steam Spring Sale
My guess would be that Bungie probably won't participate in the Jan or Feb sales, but might participate in the March one.
They might have additional (small) sales in there along the way, but you just have to pay attention to catch those.
Dunno, they might still have a Lunar sale. That was a pretty big deal, and they've got a fairly large percentage of the player base that festival and/or sale probably resonates with.
I don't know if that's a conclusive list, it was just the first one I found. (I think it was Polygon? Might have been).
TLDR - people say its too close to winter sale and wallets haven't recovered but publishers can still offer discounts if they want but Valve intends to move their resources to a bigger spring sale between winter and summer.
Logistically, I guess that probably makes sense, aiming for one big sale per quarter.