PMDG, a well-known developer on the scene, has today posted via their forums a new post regarding the long-awaited update for the 737 and 747 product lines. It was made clear, that the developers are currently awaiting for the Prepar3D v5 hotfix 2 release.
We have gone through a few iterations of HF2, which caused us to have to re-shuffle changes in the lighting system, so we elected to sit on our hands until the final version of HF2 is available (..)
The current expectation is to push the update to the customers within a 4-14 day window after the hotfix release. It was also mentioned, that the 747 will come as a micro-update via Operations Center. The 737 update will be a full reinstall update.
The PMDG developers are also currently working on the 777 update together with BBJ/BBJ2 and Cargo variants for the 737 NGXu.
Source: PMDG Forums