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They need 5 years for a game which is based on the BOTW engine and assets. That's pretty long.

I think it's more an economical decision. Switch sells better than expected this year and way better than the competition. There's also a lot of Switch software being released this year. So there's no real need for Zelda to push the hardware. Next year could be different.

Maybe also Bayonetta 3 and Mario & Rabbids 2 get delayed to next year. So we have still Nintendo Switch Sports, Splatoon 3, Xenoblade Chronicles 3 and Pokémon Scarlet/Violet as the big titles this year. That's enough to keep interest in Switch. I think we should also see another big unannounced title this year.