You are not taking in consideration it's up against a Rockstar game, not just a similar game.
Rockstar games are massive things, all the attention will be going towards Redemption 2, not saying it'll make a Far Cry flop, but it'll certainly affect it.
Would be much more wise to hold it for a bit than actually releasing close to Redemption 2.
Primal came around February, didn't it? If Redemption 2 comes this holidays just hold it (Far Cry) until March and it's already avoiding most of the damage releasing under a Rockstar game would cause.
I just don't see it being such a big deal that they should skip the holiday season unless it really does need a delay. One is an FPS with its own style and the other is a TPS with its own style. Those who like Far Cry games will buy it.
Personally, if RDR2 is anything like the first game, I'll take a good Far Cry over it any day of the week. RDR was one of my bigger gaming disappointments in recent years. Granted, Rockstar has the resources to fix all the issues RDR had but they're going to have to prove it before I'll buy it.
I don't think you are realising how big Redemption 2 will be, even if you disliked Redemption.
The media will be all over it. All over it.
That's where it'll hurt this potential Far Cry, marketing will be harder, way harder, than it should, it'll actually affect even other non-related games, much more a similarly themed one which will end up on the "not as good at" placement whenever people talk about it, when we are still within Redemption hype.
Not only this is a new Redemption but it's also the new Rockstar game after GTA V.
Just like TLOU 2, this thing will be massive upon release, the flocking of attention over it will be insane.