OK, the Knott's project hasn't been cancelled. It was supposed to be announced when Knott's Bear-y Tales opened on Media Day.
It has been placed on hold, and my guess, it will happen once the parks chain wide are operating at Full Steam and revenues return to normal.
One of the goals of the Project was to expand in space to increase capacity limits, and to add additional Food and Merchandise options, along with a few attractions. One was rumored to be a roller coaster.
The Rumors talked about the area being called Fort Calico, and would take over some of the backstage area on the south side of the park.
Mystery Lodge was supposed to be the entrance area, to tie in Calico River Rapids theming.
Knott's actually hinted to Fort Knott's in the last Ghost Town Alive scripts in 2019, so a strong rumor.
As with any large project, what actually was green lighted changed every so often, and never was 100% locked down.
So my guess, when the park needs more capacity, we shall see Fort Calico.
Until then, minor new things each summer. In 2021 (hopefully), the 100th Anniversary and Bear-y Tales. Something in 2022, but doubtful it will be Fort Knott's, unless the rides have been been actually purchased.