In an official EA blog post Byron Beede, the General Manager of the Battlefield franchise has announced that last months Season 7 update will be Battlefield 2042’s last season as they move on to build the next Battlefield game.
"While we've enjoyed and are proud of creating these seasons of additional content for Battlefield 2042, it is now necessary for us to turn from the present to the future. What this ultimately means is that Season 7 will serve as the final season for Battlefield 2042. After Season 7 concludes, we will continue to support the game with new in-game challenges, events, modes, and of course, ongoing maintenance, but we are moving away from delivering official seasons."

"We know this news may be disappointing. However, as we looked at what the future of the series required, it became clear it was time for us to shift our resources and focus to be fully dedicated to what comes next."
In addition to this news Byron also announced that Motive, the studio behind the Dead Space remake and Star Wars Squadron, are building a team to help with future Battlefield development. They will now be the 4th team at EA working on the franchise joining DICE, Criterion and Ripple Effect.

While Battlefield 2042 had a pretty rough launch it has seemed to work out fine for EA in the end, at least enough to support it for 7 seasons. We will be curious to see where they go next with the series.