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I think it's extremely unlikely that Halo 5 would release at launch, 343 is/was allowed some 4 years in total for Halo 4, there is no reason to think it'll be shorter for Halo 5 especially since they'll have to develop every asset from scratch for next-gen as well as a bigger than "usual" engine upgrade. :)

Fortunately I don't think it's a must for launch.