This year's Nintendo E3 conference had a number of games announced and shown off, including Super Mario Odyssey. Among this list of games included Hey! Pikmin, coming soon to 3DS. But in 2015, Pikmin 4 was mentioned by developers and hasn't made waves in the press lately, and was obviously absent from E3.
Nintendo's Shigeru Miyamoto spoke to Eurogamer at E3 about this, saying, "I've been told not to share anything about this from PR, but I can tell you it is progressing."
This seems to imply that Pikmin 4 isn't far enough along to officially announce quite yet, but it's definitely in production. Perhaps Hey! Pikmin will scratch the itch Pikmin 3 left us with on the Wii U until the next numbered title releases.
Oddly enough though, Miyamoto said the game was "Very close to completion" in 2015, back when the Switch was merely a project called the NX. It would seem the eventual progress to the Switch left Pikmin 4 with the need of an overhaul.
Honestly, the takeaway here is that it's still being actively worked on, and considering the cult following of the Pikmin series, a new game coming despite unclear release windows is still good news. At least it didn't get the Metroid treatment, being left dormant on the shelf until just very recently with Metroid: Samus Returns.
Hey! Pikmin is set to release on June 28 on Nintendo 3DS.