The release of The Division: Heartland This is likely to happen in the coming months. An initial rating suggests that the development is nearing its end.
The following was examined The Division: Heartland at Taiwanese rating board (via X), although there is a possibility that this could be an open beta. It is estimated that 2 to 3 months will pass between the age rating and the release of the title.
The Division: Heartland Currently being developed by Ubisoft Redstorm, this free-to-play shooter offers exciting matches in an idyllic setting. During the day, players explore and complete objectives, gather materials and supplies, and face various dangerous enemies. As day turns to night, the challenges increase and new foes appear. Players must evade the increasingly dangerous contamination, fight their way through hordes of rogue NPCs, and confront new enemy players.
As the player, you take on the role of six trained Division agents who have followed the distress call from across the country to uncover the ever-changing secret of the community amidst a crisis and to give hope to the remnants of the American small town left in ruins after the spread of the Dollar Flu.
The goal is to complete PvE missions, gather equipment, and prepare for the battles of Excursion Operations. There will also be massive 45-player PvEvP battles against a group of dangerous Rogue Agents, an aggressive faction known as the Vultures, as they try to survive a deadly virus.
An official release date from Ubisoft for The Division: HeartlandHowever, the version that will be released for PS5, Xbox Series X|S and PC is not yet available.

Sounds to me like there are too many microtransactions and it might even be pay-to-win.
I enjoyed playing the first two installments for a while, but I'll be keeping my distance from this one for now.