According to PSFocus, a Netherlands video game site, Prey 2 may be cancelled by Bethesda.
They cite three cancellations by the game's developer Human Head Studios at planned conferences, and the lack of information behind these cancellations has them concerned enough to see this as a deadly omen regarding its fate. Much like The Last Guardian. They say that "from different reliable sources" Prey 2 has "largely disappeared".
Last I saw Prey 2 was last year at E3 and at a Bethesda event in Utah with a hands-off demonstration and gameplay video. I don't think Zenimax will drop the game since it's one of the best new IPs they had going; I say "new IP" because it pretty much is whole new take on the Prey franchise, with a first-person open-world alien city.
Maybe Bethesda is trying to cut its losses with mediocre sales of Brink, RAGE, and Hunted: The Demon's Forge, but this really has a shot at being an extraordinary success. I still have it pre-ordered, so at least the retailers haven't dropped it. I, for one, don't think the rumor is true, but we'll have to wait for Zenimax to go beyond the standard "no comment".