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My guess is Bioware just wants to announce it now to assuage the fears that they are becoming an online developer due to Anthem being an online game. It's the same reason that Bethesda announced Starfield and Elder Scroll 6 at E3 even though they are years away from release, because they didn't want people to think they were abandoning singleplayer games after they announced Fallout 76.

That being said, I am disappointed that it is this far away from release, there were reports that it was already entering pre-production nearly 2 years ago, I would have hoped they had made more progress than this in that amount of time. Kind of sucks we won't see it release until 2021, but it should be next-gen only at least, not held back by current gen consoles hopefully.