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They may be mired in getting a huge bug fix patch pushed out. We'll know more after the next patch.
This not true. They have job postings for a "nextgen title"
https://twitter.com/NeonGiantGames/status/1521964591009435648?s=20&t=tSUwDJoUgWscUL0pvXCSTg
If a New expansion for Ascent added new gameplay, then it would be very much like developing a Nextgen title. People want Speed Crush to be more developed. That's a Racing game by itself. You also have Arena Battles in Loading... a thrilling way to gamble and test your own skills. And I know I've been pushing for them to add something where we can enjoy the clubs in the Arcology...
I prefer to think that expanding their staff is a good sign: They are hunting down bugs and honing the product that has brought them success. However, I understand how it does open the door to potentially getting distracted with new projects. Have any of the Employees of Neon Giant left recently? That might paint a more critical picture than what they are hiring....
However, I did find one article which stated they were working on a first person Cyberpunk game in the Unreal 5 Engine... so it's possible they are working on a new project.
https://tech4gamers.com/neon-giant-first-person-unreal-5/ It's also possible this new project is related to The Ascent in some way. Or.. it's possible that the person writing the article is speculating incorrectly on the information. Neon Giant's listing doesn't actually mention Unreal 5.
It's hard to say for sure, considering the fact I think the photo mode came out of their initially failed experimentation with switching between Isodynamic and First Person view. Enough people asked for something along those lines that they might just push through an make something that crazy.
Even if they don't, they could recycle many of the existing assets anyway, since it really pushes the details and graphics anyway... although I don't know how things work going from Unreal 4 to Unreal 5. Barring anything really unexpected, minor touch ups could take them really far.
Neon Giant plays things very close to the chest. It doesn't even look like they announced Cyber Heist until 2 months before they released it. They like to keep things neat and they don't over promise or get carried away talking about their plans.
If the possible new project is tied into The Ascent, it's entirely possible they will develop the existing game in parallel with the newer project.
Or.... maybe the First person mode they want someone programming isn't for FPS gaming at all. This could be them adding a Speed Crush racing mode to the game which would vastly expand the Multiplayer potential, both Online and Couchplay. Killball is another possibility for First person perspective, since we don't know anything about how that sport is played. It would probably be easier to stick to Isometric for any team sports ball, no matter how futuristic though.
Either way, it sounds like 11 members will soon become 12 or more. I can't wait to see what they have in store for us!