Going to put my chips on "no", I reckon Square Enix wouldn't want to repeat the issue of announcing the game way too early (a la Final Fantasy 7 Remake), and so I think they'll only announce when it's less than 12 months to go, which will probably be E3 2021 at the earliest.
I'm not precisely sure where this rumor came from, minus a bunch of Twitter randos trying to gain flex their insider "cred". Maybe I missed something; happy to be told what's what if I did.
I would like to instead place my best that FFVII will be mentioned in some form. Most likely the announcement of a free next gen upgrade and MAYBE a tiny teaser for part 2.
I also wouldn't be surprised if it's part of a Final Fantasy highlight reel that also mentions FFXV getting upgraded as well.
They will show a trailer showing FFVIIR-2 logo, which morphed into FFXVI logo.
Followed by and image of Cloud face slowly morphing into Lightning face.
Followed by "directed by Motomu Toriyama".
Followed with "featuring Joker from Persona series..."
"...and Xehanort from Kingdom Hearts series".
Then the trailer closes with "Pls Be Excited"
I'd be happy for even a purely cinematic trailer with no gameplay or release window, if only to finally get something fresh from the series (i.e. not a remake or a game that's been in development for almost half my life lol).