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Olympus says that you should expect an E-M5 update soon

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Imaging Resource interviewed Mr. Terada and Sugimoto from Olympus. Here are few hot info:

New PRO lenses: There will be pro lenses released before the 150-400mm pro launch in 2020
New E-M5II successor: We can reassure you that we plan to introduce a successor model.
Core focus: core strengths of Olympus brand are compact and lightweight, high-resolution lenses, and strong image stabilization
Reason for the E-M5III launch delay: The move of the factory from China and Vietnam had a double impact on the financial results and an impact on product release timing.

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