The Elden Ring: Shadow Of The Erdtree DLC expansion may not release this fiscal year, judging from FromSoftware's parent company Kadokawa's latest financial report.
The Elden Ring: Shadow Of The Eldtree DLC expansion has been in development since shortly after the base game launched, according to new information discovered on the recently updated lead game designer's LinkedIn profile
Speculation has it that Elden Ring: Shadow of the Erdtree will be taking players into Miquella's dream and possibly into contact with the eternally young empyrean himself. If that's truly the case, then there are a few bits of lore that really need to be fleshed out more.
GF365: "One year after the release of FromSoftware's unforgiving RPG masterpiece, they announced the first (hopefully not the only) expansion to Elden Ring. They showed masterfully drawn artwork with this exhilarating announcement. Let's discuss Elden Ring: Shadow of the Erdtree speculation based on the official artwork."