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Shtinamin_ said:

Niko Partners, a big China market intelligence, has great ties in the gaming world including: Activsion Blizzard, Google, Nvidia, Sony, Take Two Interactive, Tencent, Unity, and Nintendo. And they are predicting an NG announcement this 2024 from Nintendo.

https://www.vgchartz.com/article/459507/analyst-predicts-switch-successor-to-be-announced-in-2024-ps5-pro-to-release-this-year/

Based on this if Nintendo announces the NG this year, then it should be releasing in 2025.
I want to predict March 2025, that way they can have the immediate die-hard fans at the beginning, have the word of mouth hype throughout the year, and the 2025 Holiday season build up for games. 3D Mario, Mario Kart 9, Pokémon, COD, and even some bigger 3rd party developers.

So no, Nintendo does not need to release their successor in 2024.

It's entirely possible for it to be announced, unveiled and launched within 2024. Products don't need the same long lead times to build awareness and hype like in years past.

In fact, I think it would serve Nintendo better not to officially announce and unveil it way ahead of time, because all that will do is gut Switch sales even faster. Think of how dead Black Friday and Christmas 2024 will be for Switch if everyone is knows to just wait for Switch 2. If Nintendo were to unveil it anywhere from June-October this year and launch it in March next year, that's more than half a year of no sales momentum at all for the current Nintendo product in the market now, which includes the aforementioned holiday season.