The Fable reboot was announced during the Xbox Games Showcase in 2020, as one of the first titles to be revealed for Xbox Series S/X. Since then, we haven't heard much, although we got to see glimpses of in-engine graphics during the Xbox Games Showcase 2023. But since then, things have been silent again.
Fortunately, it doesn't seem like the release is too far off, as the fairly reliable insider/leaker NateTheHate now claims that it will be released in 2025. While he doesn't go into more details than that, PlayGround Games' lead recruiter, Anastasia Sharples, writes on her LinkedIn that they have "done over 100 hires in 2023" (nice to read about people getting hired rather than fired), which definitely indicates that they seem to have entered full production of Fable.
Still, as usual, this is just a rumour, so take the 2025 premiere with at least a teaspoon of salt.