
The report itself comes the way of VGC's Andy Robinson, a very reliable industry insider. According to Robinson, "Fable might just make it out before the end of this gen." If you've been paying attention to reports, rumors, and rumblings about the game, all of which have pointed to a slow and troubled development, this is perhaps less surprising.
Robinson noted he's not heard of the game switching engines and being rebooted during development -- which the aforementioned rumblings have mentioned -- but he seems confident the game is "not coming out any time soon."
For what it's worth this lines up with what we've heard for a couple of years now. Not only did Playground Games need to staff up substantially to make the game -- and you have to remember they've previously only been a one-team studio dedicated to Forza Horizon -- but they had to do so in a market where it's very difficult and expensive to hire, let alone find senior talent.
As you may know, most games with long developments have troubled developments and most of these "most games" don't turn out that great. There are exceptions though, and a long development doesn't always mean a troubled development. That said, where there is this much smoke there is usually fire. If a variety of sources are reporting a range of issues, it's because things probably aren't going very smoothly.
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Source: https://comicbook.com/gaming/news/fable-4-xbox-one-series-x-release-date-update-report/
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