Yep, you're missing The Acolyte, and all those other projects taking all their energy is certainly the most positive/charitable explanation for why RS isn't in active production.And with the writers and actors strikes looming, and Andor, Mandolorian, Ahsoka, Skeleton Crew (am I missing anything?) and a possible Obi Wan S2 in current development, it's entirely plausible that LF just wanted to hit the brakes for another year before starting work on RS.
(That said, I don't see why Lucasfilm would have waited for any one director, or even a writer-director, to get RS going, though. Some projects are personal and distinct enough that they need a writer-director - Tarantino films being perfect examples. But, like I said, a vroom-vroom, pew-pew space dogfighting movie is probably not one such film.)