Cyberpunk 2077's second big update won't release in February, and has been delayed to the second half of March, CD Projekt RED today announced.

Right now CDPR is being hit on all sides: They're getting sued from angry investors, gamers are still upset and Cyberpunk 2077 is still off the PS Store, and the studio just suffered a recent cyber attack that saw source code being auctioned off to the highest bidder.
As a result of these stressors, Cyberpunk 2077's Patch 1.2 update has been pushed back. The update now has a targeted release date of the second half of March, but even that's not a guarantee.
CD Projekt originally hoped to release two megaton patches in January (Patch 1.1) and February (Patch 1.2), and use the rest of the year to roll out updates alongside a next-gen version sometime later in 2021. Those plans have been disrupted thanks to the IT attack and the heavy fixes required from the updates.

"While we dearly wanted to deliver Patch 1.2 for Cyberpunk 2077 in the timespan we detailed previously, the recent cyber attack on the studio's IT infrastructure and extensive scope of the update mean this unfortunately will not happen - we'll need some additional time.
"Our goal for Patch 1.2 goes beyond any of our previous updates. We've been working on numerous overall quality improvements and fixes, and we still have work to do to make sure that's what you get. With that in mind, we're now aiming for release in the second half of March.
"It's not the news we enjoy sharing, but we want to make sure we launch this update properly. Stay tuned for more information as the time draws closer. Thank you for your continued patience and support."