when will the new update be released or will it be released this year or the next?

In tne mid-late September, you can see it on the last patreon post

According to the official release date announcement on Patreon (https://www.patreon.com/posts/release-date-89821852) the release for $5+ patrons is on Wednesday 27th September, and for public on Monday 2nd October.

(Edit: Referencing recent patreon post instead of a vague twitter post by the game's author)