Dr. Disrespect's former studio Midnight Society has announced that it's closing down, which presumably also means that work on first-person extraction shooter Deadrop will also come to an end.
In a notice on X, Midnight Society says it's "closing its doors after three incredible years", which also means that its "amazing team of over 55 developers" are now looking for work. The studio says it's "actively seeking other game studios" to provide those employment opportunities.
Although Midnight Society doesn't explicitly say that Deadrop has been canceled, it's unlikely that work on the game will continue; that would require another studio to pick up the slack or for Midnight Society members to form a new outfit, and there's no indication that will happen, so it looks like the game is, er, dead.

Midnight Society was founded back in 2021, with controversial YouTuber Dr. Disrespect serving as one of the founders of the studio, as well as its public face.
The studio's first project, Deadrop, was revealed under the codename Project Moon, and the studio said back in 2022 that it would collect user feedback on a regular basis, using it to shape the direction of the game.
In June, however, Dr. Disrespect was fired from Midnight Society following allegations of sexual misconduct, which were apparently part of the reason for the content creator's lifetime Twitch ban in 2020.
His YouTube channel was also demonetized, although YouTube recently reversed that decision, allowing Dr. Disrespect (real name Guy Beahm) to continue to make money through his channel.
Following Beahm's ousting from Midnight Society, the studio was hit by layoffs back in September, with one of Deadrop's Founders (essentially a major contributor to the studio rather than an actual founder) claiming that around 50% of the studio's workforce was let go. It looks like now we know why.